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Celtic Pharmaceutical Holdings L.P.
Drug Names(s): XR11576
Description: MLN576 is an oral agent that acts, at least in part, by inhibiting topoisomerase I and topoisomerase II. Several chemotherapeutics target topoisomerases, including irinotecan, topotecan, doxorubicin, and etoposide. Drugs of the fluoroquinolone antibiotic class also inhibit topoisomerases.
Deal Structure: In September 2005, Celtic Pharmaceutical completed its takeover of Xenova Group plc and took full ownership of its drug candidate portfolio.
In December 2001, Xenova and Millennium partnered to develop MLN944, MLN576, and related anti-cancer drugs.
Millennium is developing MLN576 in collaboration with Xenova Group plc, the originators of the compound. Xenova retains responsibility for performing development activities associated with the program to the end of Phase II clinical trials. For further development beyond that point, Millennium will assume responsibility in North America and Xenova will retain responsibility for the rest of the world. The compound is currently in Phase I clinical trials.
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...See full deal structure in Biomedtracker
Partners: Takeda Pharmaceutical Company Ltd
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