Takeda invests in cancer play Maverick, with option to buy

Immuno-oncology company Maverick Therapeutics Inc. (Brisbane, Calif.) raised $23 million in a series B financing from founding investor MPM Capital and Takeda Pharmaceutical Co. Ltd. (Tokyo:4502). In a new partnership, Maverick and Takeda intend to develop a platform designed to improve T cell redirection therapies.

The equity investment is part of a larger package giving Takeda an option to acquire Maverick in five years. The companies said Takeda's total $125 million commitment includes the series B investment, R&D funding and an upfront option payment. Maverick co-founder Jeanmarie Guenot declined to provide specific details...