BridGene Biosciences, Inc. announced that it has achieved a significant milestone in its collaboration with Takeda.
First drug candidate will target root causes of debilitating neurological disorders SAN JOSE, Calif., March 8, 2023 /PRNewswire/ -- BridGene Biosciences, Inc., a biotechnology company that uses proprietary chemoproteomics technology to discover and develop small molecules for high-value, traditionally undruggable targets, announced that it has achieved a significant milestone in its collaboration with Takeda. The collaboration between BridGene and Takeda is based on BridGene’s proprietary IMTAC™ (Isobaric Mass Tagged Affinity Characterization) chemoproteomics platform, which is used to identify targets and small molecules for Takeda to develop into therapeutic candidates for clinical development. As a result of this achievement, BridGene is entitled to receive an undisclosed milestone payment. Ping Cao, Ph.D., Co-Founder and CEO of BridGene Biosciences, said, “We are excited to announce this achievement. It highlights the superior capabilities of our IMTAC™ platform, which enables us to discover new mechanisms and new drugs that address unmet medical needs. We look forward to achieving further milestones as we advance our collaboration with Takeda.” Ceri Davies, Ph.D., Head of the Neuroscience Drug Discovery Unit at Takeda, said, “We are delighted about the achievement of this milestone and look forward to furthering this strong collaboration with BridGene.” In March 2021, BridGene announced its agreement to establish up to five drug discovery programs by using IMTAC™ to identify targets and small-molecule drug candidates for Takeda to develop into therapeutic candidates for clinical trials. As the drug discovery programs achieve specific preclinical, clinical, and commercial milestones, BridGene is eligible to receive event-driven payments that could exceed $500 million, as well as royalties from sales of commercialized drugs resulting from the collaboration. About BridGene Biosciences Contact Investors Media Dave Schemelia View original content to download multimedia:https://www.prnewswire.com/news-releases/bridgene-biosciences-achieves-milestone-in-takeda-collaboration-301765106.html SOURCE BridGene Biosciences |