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Takeda Makes $75M Equity Investment in Ascentage Pharma

Takeda has signed an option agreement with Ascentage Pharma to enter into an exclusive license agreement for olverembatinib.

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By: Charlie Sternberg

Associate Editor, Contract Pharma

An agreed equity investment by Takeda into Ascentage Pharma, a global biopharmaceutical company, closed on June 20, 2024, with all proceeds already received.
 
Pursuant to the terms of the Agreement, Ascentage Pharma has allotted and issued an aggregate of 24,307,322 subscription shares to Takeda International at the share purchase price of HK$24.10 (equivalent to approximately $3.06).
 
This investment is part of a larger exclusive license agreement recently signed by the two companies for olverembatinib, an oral, potentially best-in-class, third-generation BCR-ABL tyrosine kinase inhibitor (TKI), which is currently in development for chronic myeloid leukemia (CML) and other hematological cancers.

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