BioCentury
ARTICLE | Company News

Denali grants Takeda options to neurology antibodies

January 5, 2018 11:13 PM UTC

Denali Therapeutics Inc. (NASDAQ:DNLI) granted Takeda Pharmaceutical Co. Ltd. (Tokyo:4502) options to co-develop and co-commercialize neurodegenerative disorder candidates ATV:BACE1/Tau, ATV:TREM2 and an undisclosed discovery-stage program.

The biotech is to receive $40 million in upfront cash and a $5 million preclinical milestone upon the deal’s close. Takeda will also invest $110 million in Denali through the purchase of 4.2 million shares at $26.10. The price is a 62% premium to Denali’s close of $16.08 on Jan. 4, the day before the deal was announced. In total, Denali is eligible for another $15 million in option fees, $70 million in preclinical milestones, $707.5 million in clinical and regulatory milestones and $225 million in sales milestones...