Takeda, Scohia deal

Takeda will spin out eight candidates into newco Scohia to treat diabetes and renal and cardiovascular diseases. Takeda partnered with drug distributor Medipal Holdings Corp. (Tokyo:7459, Tokyo, Japan) and public-private partnership Innovation Network Corp. of Japan (Tokyo, Japan) to launch Scohia with a joint investment of ¥10 billion ($87 million). Takeda invested ¥1.95 billion ($17 million) in Scohia and holds a 19.5% stake. Majority owner INCJ will have a 70.5% stake, and Medipal will hold 10%. The partners said the newco will be staffed with Takeda researchers and housed in its Shonan Research Center...