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news.Synageva BioPharma has entered into a research and development pact with Mitsubishi Tanabe Pharma to develop a new therapeutic for an unrevealed orphan disease by using Synageva's product development capabilities and proprietary protein expression platform.
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As per the terms of the agreement, Synageva is eligible to receive an upfront payment of $3m from Mitsubishi Tanabe.
Additionally, Mitsubishi Tanabe will contribute additional research funds.
Synageva president and CEO Sanj Patel said they look forward to a productive partnership with Mitsubishi Tanabe Pharma that should result in a new treatment for a devastating condition.