Takeda and F-Star Therapeutics are tacking on another bispecific antibody deal worth $1 billion in potential milestones, marking the third time the two have partnered up in a year.
Few details were disclosed in the companies’ announcement Wednesday, beyond the $1 billion in potential biobucks being on the table. The two drug developers will jointly research and develop antibodies for new immuno-oncology targets, with Takeda having an exclusive option to take select candidates forward. F-Star did not expand on the cancer targets at which its platform will be aimed.
F-Star, recently acquired by invoX, a subsidiary of China-based Sino Biopharmaceutical, collected an undisclosed upfront payment as part of the deal in addition to research funding from Takeda for the length of the collaboration. The biotech says the $1 billion would be paid if “all milestones across multiple programs are reached.”
The new deal is Takeda’s latest affirmation of F-Star’s antibody-producing platform, with Wednesday’s disclosure marking the third deal between the two in a year. In July 2022, Takeda committed to the first bispecific antibody from a research collaboration signed in 2021. And in March, Takeda took on a second bispecific from the same July 2021 pact.
Further collaboration with Takeda offers a bit of continuity for F-Star after it was bought by invoX in March for $161 million in cash.
As for Takeda, it’s the latest leap in what’s been an aggressive business development and M&A strategy in recent months. The Japanese pharma licensed Hutchmed’s colorectal cancer med fruquintinib in January and inked a new partnership with Innate Pharma in April to develop antibody-drug conjugates to treat celiac disease. Takeda’s recent partnerships come as the company has pulled back from some internal R&D efforts, namely in the AAV gene therapy space. In May, the company disclosed laying off almost 200 U.S. employees.