Maverick Therapeutics Inc., an MPM Capital portfolio company, and Takeda Pharmaceutical Company Limited announced that they have entered a collaboration to develop Maverick’s T-cell engagement platform created specifically to improve the utility of T-cell redirection therapy for the treatment of cancer.
The $125 million of funding includes an upfront option, equity and research and development funding payments, and provides Takeda the exclusive right to purchase Maverick after five years for an undisclosed sum. Maverick was founded in 2016.
“We believe that this collaboration validates Maverick’s approach to T-cell engagement in the tumor microenvironment which we believe will allow us to address previously intractable oncology targets,” said Jeanmarie Guenot, Ph.D., Maverick’s co-founder. “Importantly, this strong collaboration should allow us to move rapidly to the clinic and address unmet needs in cancer immunotherapy.”
“We see significant potential in Maverick to develop unique, small and customizable T-cell engagement therapeutics,” said Phil Rowlands, Interim Head, Oncology Therapeutic Area Unit, Takeda. “Collaborations are critical to helping us advance our aspiration of curing cancer. Working together with Maverick will enable us to leverage a potentially groundbreaking biologics platform to support Takeda’s goal of developing innovative, targeted therapies to treat people with cancer.”
MPM’s BioVentures 2014 and the UBS Oncology Impact Fund, managed by MPM Capital, join Takeda in a $23 million Series B Financing as a key element of the financing package. Takeda will add a director to Maverick’s Board. The management team of Maverick will be led by President and Chief Scientific Officer Hans-Peter Gerber, Ph.D., formerly of Pfizer.
Takeda signed agreements with Maverick Therapeutics through its wholly-owned subsidiary, Millennium Pharmaceuticals, Inc.