Takeda, AZ partner to develop PD candidate

Takeda Pharmaceutical Co. Ltd. (Tokyo:4502) is adding another asset to its neurology pipeline by partnering with AstraZeneca plc (LSE:AZN; NYSE:AZN) to co-develop MEDI1341, a preclinical AZ candidate to treat Parkinson's disease. AstraZeneca will receive up to $400 million in an initial payment and is eligible for undisclosed development and sales milestones.

AstraZeneca will lead Phase I development, while Takeda will be responsible for future clinical development. The companies will equally share future development and commercialization costs, as well as revenue. The partners plan to begin Phase I trials this year...