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Prometheus Biosciences, Takeda Pharmaceutical to Codevelop Targeted Therapies, CDx for IBD

NEW YORK – Prometheus Biosciences said today that it has entered into a global strategic collaboration with Takeda Pharmaceutical to discover, develop, and commercialize therapies for inflammatory bowel disease.

The firms anticipate combining the Prometheus bioinformatics platform and advanced machine learning techniques with Takeda's expertise in drug development to deliver a new generation of IBD therapies.

Under the agreement, Prometheus will be responsible for the identification and validation of three unique drug targets for IBD, and for the development and commercialization of companion diagnostics to complement the targeted drugs, the firm said. Tokyo-based Takeda will be responsible for all drug discovery, clinical development, and commercialization activities for the resulting targeted therapeutics.

San Diego, California-based Prometheus said it will receive an undisclosed initial upfront payment from Takeda and is eligible to receive up to $420 million in development, regulatory, and commercial milestone payments across all three programs. Prometheus, formed as a result of the June acquisition of Prometheus Laboratories by Precision IBD, is also eligible to receive royalty payments on global commercial sales from each program.

"We believe that a targeted, precision medicine approach is needed to deliver new, effective therapeutic options in inflammatory bowel disease," Prometheus CEO Mark McKenna said in a statement.