NEW YORK and OSAKA, Japan, March 2, 2011 /PRNewswire/ —
Intra-Cellular Therapies, Inc. (“ITI”) and Takeda Pharmaceutical
Company Limited (TSE: 4502, “Takeda”), today announced that they
have entered into an exclusive collaboration to develop and
commercialize selective phosphodiesterase type 1 (PDE1) inhibitors,
discovered by ITI, for the treatment of cognitive impairment
associated with schizophrenia. This agreement is targeted
worldwide, but ITI has retained the option to co-promote with
Takeda in the United States.
ITI’s PDE1 inhibitors are unique, orally available, preclinical
stage compounds. These compounds have potential to be treatments
for a variety of psychiatric and neurological diseases.
Under the terms of the agreement, ITI will receive an upfront
cash payment and will be eligible to receive payments of
approximately $500 million in the aggregate upon achievement of
certain development milestones and up to an additional $250 million
in the aggregate upon achievement of certain sales-based
milestones, along with tiered royalty payments based on net sales
by Takeda. Takeda will be solely responsible for development,
manufacturing and commercialization of PDE1 inhibitors.
“Takeda’s strength in CNS drug development and commercialization
complements ITI’s innovative approach to discovery, research and
development,” said Sharon Mates, Chairman and CEO of Intra-Cellular
Therapies, Inc. “We are delighted to be working together with
Takeda to advance the development of our novel PDE1 inhibitors.
This program represents a unique approach to the treatment of
cognitive impairment associated with schizophrenia (CIAS) and other
“We are able to enhance our central nervous system pipeline, one
of our Core Therapeutic Areas, through this collaboration,” said
Shigenori Ohkawa, a member of the Board and Executive Vice
President, Chief Scientific Officer of Takeda Pharmaceutical
Company Limited. “We believe that ITI’s PDE1 inhib