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.
