Japanese biopharmaceutical company PeptiDream has signed a new multi-target collaboration and licence agreement with US-based MSD to discover and develop novel peptide drug conjugates (PDCs).
As per the deal, PeptiDream will offer peptide candidates found from PeptiDream’s proprietary Peptide Discovery Platform System (PDPS) technology for use as PDCs against targets of interest to MSD.
The peptide candidates for conjugation to cytotoxic payloads will be under the exclusive rights of MSD. The firm will also be in charge of all PDC product development activities.
The long-standing partnership between the two businesses, which began with a multi-target discovery and optimisation collaboration in April 2015, is expanded upon by the new collaboration and licence arrangement.
PeptiDream president and CEO Patrick C. Reid said: “I am excited to announce this collaboration with MSD for the discovery and development of peptide drug conjugates, to further expand on our pipeline of innovative PDC therapeutics.
“We look forward to continuing to work with the excellent team at MSD as we build on years of collaboration.”
Under the terms of the deal, up to $2.1bn will be paid to PeptiDream based on the accomplishment of specific development, regulatory, and commercial milestones.
MSD will make an upfront payment to PeptiDream under the terms of the deal. Additionally, PeptiDream is eligible to receive royalties on net sales of any such products.
In September last year, PeptiDream unveiled its plan to acquire the radiopharmaceutical business of Fujifilm Toyama Chemical for JPY30.5bn ($277m).
Under the share transfer agreement, Fujifilm Toyama Chemical’s radiopharmaceutical business will be succeeded by the new company, through an absorption-type split. All the outstanding shares of the new radiopharmaceutical firm will be transferred to PeptiDream.
