12:00 AM
Dec 03, 2012
 |  BioCentury  |  Strategy

Takeda samples, then buys

Takeda samples, then buys Envoy for discovery platform, preclinical CNS pipeline

After first making a venture investment in Envoy Therapeutics Inc. in 2009 and then sampling its wares under a 2010 target discovery deal, Takeda Pharmaceutical Co. Ltd. has taken the next step and acquired the biotech for its bacTRAP platform and a preclinical pipeline of CNS therapeutics.

Under the deal, which closed last month, Takeda is paying up to $140 million in cash, including an undisclosed upfront payment and preclinical milestones.

The pharma's corporate venture arm, Takeda Ventures Inc. (TVI), had already participated in Envoy's $8 million series A round in 2009, gaining a 12.5% stake in the company. 5AM Ventures and Roche Venture Fund also invested in the round.

Takeda did not have an option to acquire Envoy as a result of that investment, but the biotech's platform and pipeline, and its track record under the partners' 2010 deal, motivated Takeda's decision to acquire the company, said spokesperson Seizo Masuda.

bacTRAP (BAC-based translating ribosomal affinity purification) enables identification of potential therapeutic targets in specific cell types - such as neuronal subtypes in the brain - by measuring the in vivo expression...

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