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Takeda to acquire CNS ally Paradigm Therapeutics
OSAKA, JapanóTakeda Pharmaceutical Co. Ltd. and Paradigm Therapeutics Ltd. have† agreed as of March 12, 2007, to the acquisition of Paradigm by Takeda. Financial terms were not disclosed, but it has been reported that upon completion of the deal, 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, U.K.-based Paradigm has established 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 central nervous system 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 has been an excellent partner in our CNS collaboration and this deal represents a logical and positive extension to that," says Alastair Riddell, CEO of Paradigm. "The company looks forward to continuing with its drug discovery and development activities within the global reach and long-term planning horizons of Takeda."
"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," says 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."