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Takeda Pharmaceutical Company Ltd

Drug Names(s): CAB-2

Description: MLN2222, also known as CAB-2, is a recombinant protein that blocks both the C3 and C5 convertases, which are essential components of the complement activation pathway.

Preclinical data have shown that CAB-2 can reduce ischemic damage following reperfusion in a number of model systems and may be useful after cardiovascular surgeries (e.g., coronary bypass, aneurysm repairs, etc.), or other medical circumstances (trauma, organ transplantation) where the risk of ischemia/reperfusion damage is high.

Deal Structure: On November 26, 2001, Millennium Pharmaceuticals, Inc. (the Company) issued a press release to announce that it has entered into an agreement with XOMA Ltd. (XOMA) to collaborate in the development of two of the Company's biotherapeutic agents: CAB-2 and LDP-01 for certain vascular inflammation indications. Under an investment agreement, the Company committed to purchase up to $50 million of XOMA common shares over the next three years, through a combination of convertible debt and equity at then prevailing market prices.

In April 2008, Takeda Pharmaceutical and Millennium Pharmaceuticals announced that they entered into a definitive agreement pursuant to which Takeda will acquire Millennium for approximately $8.8 billion through a cash tender offer of $25.00 per share. The acquisition closed in May 2008.

Partners: XOMA Corporation

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