Takeda gets rights to Theravance's GI candidate

Theravance Biopharma Inc. (NASDAQ:TBPH) granted Takeda Pharmaceutical Co. Ltd. (Tokyo:4502) a global license to develop and commercialize serotonin (5-HT4) receptor agonist TD-8954 to treat gastrointestinal motility disorders.

Takeda is to pay Theravance $15 million in cash up front. Theravance is eligible for up to $110 million in milestones through TD-8954's launch, plus double-digit royalties. ...