NUMAZU and OSAKA, Japan--CanBas Co., Ltd. and Takeda Pharmaceutical Company Limited today announced that both parties signed the collaboration agreement for investigational compounds for treatment of cancer, CBP501 and its backup compounds discovered by CanBas. With this agreement, the world-wide exclusive right for development, manufacturing and marketing is granted to Takeda, while in the U.S. the development and promotion are jointly conducted by both parties.

CBP501 has a mechanism of action to selectively abrogate the G2 checkpoint, which is used by cancer cells to determine if a cell is progressing correctly through replication within the cell cycle. CBP501 is expected as a potential cancer treatment with lesser influence on normal cells, when being used as concomitant therapy with chemotherapy anti-cancer drugs which will lead to promoting the damages to DNA of cancer cells. Now CanBas is conducting phase 1 clinical study of this product in the U.S.

Under the agreement, CanBas will receive an initial payment upon the commencement of the collaboration. Takeda will also make an equity investment in CanBas. CanBas will receive milestone payments related to the successful clinical advancements and regulatory approvals, and also royalty payments on the sales of the product, while there is a profit-sharing scheme for the U.S. market where both parties co-develop and co-promote the product. For the rest part of the world, Takeda will cover all the development expenses except a part of research expenses for backup compounds of CBP501.

"We are very happy that Takeda highly evaluated our concept of G2 checkpoint abrogation and that we have reached this collaboration agreement on CBP501 and backup compounds", said Takumi Kawabe, M.D., Ph.D., President & CEO of CanBas. "We believe that we can improve the speed and quality of our clinical development hereafter by this collaboration."

"We are very much pleased with this agreement with CanBas", said Yasuchika Hasegawa, President of Takeda. "We will fully cooperate with CanBas in clinicaldevelopment and we expect that we can offer this treatment option to patients and health care providers as early as possible, which will contribute also to enhance our cancer franchise as one of our core therapeutic areas."