Takeda to Acquire Paradigm Therapeutics
OSAKA, Japan & CAMBRIDGE, England--(BUSINESS WIRE)--Mar 12, 2007 - Takeda Pharmaceutical Company Limited ("Takeda")(TOKYO:4502) today announced that Takeda and Paradigm Therapeutics Limited ("Paradigm") agreed on March 12, 2007 to the acquisition of Paradigm by Takeda. Paradigm shareholders were advised by Avlar BioVentures Limited. Financial terms were not disclosed. Subject to completion, which is expected to occur within a few weeks, Paradigm will become a subsidiary of Takeda Europe Holdings B.V., a wholly owned subsidiary of Takeda. Additionally, Paradigm will be renamed Takeda Cambridge Limited, and Paradigm's subsidiary in Singapore will be renamed Takeda Singapore Pte Limited.Founded in 1999 by University of Cambridge researchers, Paradigm has established world-class target identification and validation capabilities based on genetic engineering and in vivo pharmacology. Using their capabilities, Paradigm has already developed a promising pipeline of novel drug discovery targets and compounds in key areas of unmet medical need including pain, CNS disorders, prostate and breast cancer, diabetes, hyperlipidemia, and obesity.
With this merger, which replaces and builds upon Takeda and Paradigm's 2005 CNS therapeutic area alliance, Paradigm's technologies and researchers will be integrated into Takeda and will help to accelerate multiple scientific processes such as the validation of drug targets derived from genomic research, the creation of animal models reflecting the human pathologic conditions, and the optimization of drug candidates.
"Takeda have been an excellent partner in our CNS collaboration and this deal represents a logical and positive extension to that. The company looks forward to continuing with its drug discovery and development activities within the global reach and long term planning horizons of Takeda," said Alastair Riddell, CEO of Paradigm.
"We are very excited with this deal, which will add to Takeda another research base equipped with the state-of-the-art technologies expected to further improve Takeda's research efficiency," said Yasuchika Hasegawa, President of Takeda. "We now have research functions in Japan, the U.S., Europe, and in Singapore where Paradigm has its subsidiary. This acquisition surely represents our initiatives for establishing global research infrastructures and for pursuing the world's highest standard of productivity, which we believe will support enhancement of our R&D pipeline as source for future growth, and the realization of our goal to become a truly world-class pharmaceutical company."
About Paradigm
Paradigm is a private venture capital backed drug discovery and development company located on the Cambridge Science Park in Cambridge UK and Biopolis in Singapore. Paradigm acquired Amedis Pharmaceuticals in December 2004, and Paradigm signed collaboration agreement in June 2005 with Takeda Pharmaceutical Company.
About Takeda
Located in Osaka, Japan, Takeda is a research-based global company with its main focus on pharmaceuticals. As the largest pharmaceutical company in Japan and one of the global leaders of the industry, Takeda is committed to striving toward better health for individuals and progress in medicine by developing superior pharmaceutical products.
Contact
Takeda Pharmaceutical Company Limited
Corporate Communications Dept.
Seizo Masuda, +81 (0) 6 6204 2060
or
Paradigm Therapeutics Limited
Chief Scientific Officer
Dr. Mark Carlton, +44 12 23 477 910
or
Paradigm Therapeutics Singapore Pte Limited
Director of Research
Dr. Ian Gray, +65 677 11 300
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