Mersana, Takeda deal

Mersana granted Takeda exclusive rights to co-develop and commercialize XMT-1522. Mersana expects to submit an IND to FDA mid-year for XMT-1522 and will lead the execution of a Phase I trial. Takeda will have commercialization rights outside of the U.S. and Canada, where Mersana will retain rights. Mersana will receive a $40 million upfront payment and a $20 million milestone payment upon approval of an IND for XMT-1522. Takeda also will invest up to $20 million in equity in future Mersana financing rounds. ...