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news.Intra-Cellular Therapies (ITI) and Takeda Pharmaceutical have signed a development and commercialization pact for selective phosphodiesterase type 1 (PDE1) inhibitors to treat cognitive impairment associated with schizophrenia.
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Discovered by ITI, PDE1 inhibitors are preclinical stage compounds which are orally delivered and have the potential to treat many psychiatric and neurological diseases.
As per the terms of the agreement, Takeda Pharma is responsible to pay a sum of around $500m as an upfront cash payment to ITI upon the achievement of certain development milestones.
Additionally, it will also pay $250m in the aggregate upon achievement of certain sales-based milestones, along with tiered royalty payments based on net sales to ITI.
The tie up allows Takeda Pharma to develop, manufacture, and commercialize PDE1 inhibitors.
Takeda Pharma chief scientific officer Shigenori Ohkawa said they believe that ITI’s PDE1 inhibitors have the potential to be a novel drug with a new mechanism of action which will satisfy unmet medical needs for the millions of patients suffering from schizophrenia.
"We plan to accelerate our R&D activities for this compound in an effort to bring this novel medicine to patients as quickly as possible," Ohkawa said.