Skyhawk will use its SkySTAR™ platform to develop drug candidates directed to multiple targets for neurodegenerative diseases. In exchange Takeda will pay Skyhawk an upfront payment, future milestone payments and royalties.
WALTHAM, Massachusetts, May 6, 2019 /PRNewswire/ -- Skyhawk Therapeutics, Inc. (Skyhawk) today announced a strategic collaboration with Takeda Pharmaceutical Company Limited (Takeda) in which Skyhawk will use its SkySTAR™ technology platform to discover and pre-clinically develop innovative small molecule treatments directed to certain neurological disease targets. The agreement grants Takeda an exclusive worldwide license to develop and commercialize compounds and products directed to multiple targets while Skyhawk receives an upfront payment and is eligible to receive future milestone payments and royalties. As part of the agreement, Takeda will be responsible for clinical development and potential commercialization.
"Takeda is a leading global biopharmaceutical company with a strong focus in neuroscience and a history of developing transformative therapies across a range of challenging diseases," said Bill Haney, co-founder and chief executive officer of Skyhawk. "We look forward to working with their team with the goal of enhancing the treatment options we can bring to patients."
"Takeda is deeply committed to pursuing innovative approaches that target central nervous system diseases with no available or effective treatments," said Emiliangelo Ratti, Head, Neuroscience Therapeutic Area at Takeda. "Skyhawk's novel approach in correcting RNA expression will complement our expertise in small molecule science and may improve our chances of targeting neurological diseases that have previously been considered undruggable."
About Skyhawk Therapeutics
Skyhawk Therapeutics is committed to discovering, developing and commercializing therapies that use its novel SkySTAR™ (Skyhawk Small molecule Therapeutics for Alternative splicing of RNA) platform to build small molecule drugs that bring breakthrough treatments to patients.
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SOURCE Skyhawk Therapeutics