As per the terms of collaboration agreement that signed on March 30, 2007, CanBas and Takeda’s wholly-owned subsidiary Millennium: The Takeda Oncology had jointly initiated Phase II trials of CBP501 in patients with non-small cell lung cancer and malignant pleural mesothelioma.
Takeda and CanBas found the difference of viewpoints on each part for future development plan of CBP501, and both parties discussed the matter and mutually agreed to terminate the original agreement, effective June 15, 2010, following a reprioritization of the Takeda’s oncology pipeline for the purpose of efficient investment in selected projects.
CBP501 efficacy and safety data obtained to date does not preclude future development in the indications under study in Phase II trials.
CanBas is expected to continue the CBP501 clinical trials as scheduled with the aim of achieving the earliest possible launch, based on the data obtained to date.
Upon termination of the agreement, CanBas is expected to receive a one-time JPY750m payment consisting of the accrued development expenses payable and compensation for the termination, and Takeda will be released from all future financial obligations.