Wave Life Sciences, Takeda Discontinue Research On Preclinical CNS Programs

  • Wave Life Sciences Ltd WVE has amended its ongoing collaboration with Takeda Pharmaceutical Company Limited TAK to discontinue discovery & research of preclinical programs for central nervous system (CNS) indications over a four-year research term.
  • Under terms of the amendment, Takeda will pay Wave $22.5 million for collaboration-related research and preclinical expenses. 
  • The amendment allows Wave to advance or partner CNS programs, including those using ADAR editing, outside of the three specified targets, part of the ongoing late-stage collaboration between the companies.
  • Related: Wave Life Sciences Shows Durable ADAR-Editing In Multiple Tissues In Animal Studies.
  • The late-stage component of the original collaboration led by Wave remains unchanged, including Takeda's option to co-develop and co-commercialize CNS therapies for three targets. 
  • Should Takeda opt-in on any of these programs, Wave would receive an opt-in payment and lead manufacturing and joint clinical co-development activities. 
  • Takeda would lead joint co-commercial activities in the U.S. and all commercial activities outside of the U.S. 
  • The Companies would 50:50 share the global costs and potential profits, and Wave is eligible to receive development and commercial milestone payments.
  • Price Action: WVE shares closed 4.32% higher at $4.83 during after-hours trading on Monday.
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