- September 20, 2017
- Taiho Pharmaceutical Co., Ltd.
Taiho Pharmaceutical Concludes Option and License Agreement with Arcus Biosciences
Taiho Pharmaceutical obtains an option to in-license exclusive marketing rights of Arcus's portfolio in Asia (excluding China) and aims to develop innovative cancer immunotherapies
Taiho Pharmaceutical Co., Ltd. announced today that it has entered into an option and license agreement with Arcus Biosciences, a US-based biotechnology company focused on the discovery and development of innovative cancer immunotherapies, as of September 19th 2017.
Based on the terms of the agreement, Taiho will provide a $35mm payment to Arcus. In return for the payment, Taiho will receive an option to in-license the development and commercialization rights of product candidates in Arcus’s portfolio in Japan and certain other territories in Asia (excluding China). For any product candidate for which Taiho exercises a license, Taiho will need to provide option payments in development, regulatory and commercial milestones per molecule. Taiho is also need to pay royalties on the net sales of each product candidate that Taiho commercializes in its regions.
Taiho will attempt to continue delivering innovative new drugs to patients and medical professionals.
About Arcus Biosciences
Arcus Biosciences (“Arcus”) is a biotechnology company focused on the discovery and development of innovative cancer immunotherapies. Arcus was founded in 2015 by Terry Rosen and Juan Jaen, the co-founders of Flexus Biosciences, which in February 2015 sold its IDO inhibitor, which was in preclinical development at the time and is now referred to as BMS-986205, to Bristol-Myers Squibb. Arcus has several programs targeting important immuno-oncology pathways, including three product candidates in IND-enabling studies (A2A receptor, CD73 and TIGIT). Arcus has over 70 employees with significant expertise in medicinal chemistry, immunology, biochemistry, pharmacology, and structural biology. To date, Arcus has raised $120mm in funding from investors including The Column Group, Foresite Capital, GV (previously known as Google Ventures), Invus, Novartis, Celgene, Taiho Ventures, Stanford University, and DROIA, as well as from senior management. The company is based in Hayward, CA and has over 42,000 square feet of laboratory and office space. To learn more, visit www.arcusbio.com.
Information in this news release was current as of the original release date.