Business Services Industry
Human Genome Sciences and Takeda complete option and license agreement
Business Wire, June 27, 1995
ROCKVILLE, Md. and Osaka, Japan--(BUSINESS WIRE)--June 27, 1995-- Human Genome Sciences ("HGS") (NASDAQ:HGSI) and Takeda Chemical Industries Ltd., ("Takeda") today announced that they have entered into an Agreement where Takeda has been granted an exclusive option to license a limited number of future HGS products for development and sale in Japan.
Takeda has paid HGS an Option Fee for these rights. In addition, Takeda will pay HGS milestone payments and royalties for each product developed by Takeda in Japan.
Dr. William A. Haseltine, chairman and CEO of HGS stated "We are pleased to establish this relationship with Takeda. Not only will Takeda use the HGS genomic database in its research through collaboration with SmithKline Beecham, but will also collaborate directly with HGS to develop products for the Japanese market."
Dr. Katsura Morita, chairman of Takeda stated "We are very pleased to have access to the most advanced and largest genomic database from HGS. We expect not only to greatly decrease animal studies which have been necessary in the course of demonstration of efficacy of new pharmaceutical compounds for humans, but also to make more direct research and evaluation of new pharmaceutical compounds."
Human Genome Sciences Inc. is a company with the mission to develop products to predict, prevent, detect, treat and cure disease based on its leadership in the discovery and understanding of human genes.
Takeda Chemical Industries Ltd. is Japan's leading pharmaceutical company, whose R&D-oriented activities encompass every major sector of prescription drugs and an expanding range of over-the-counter medicines.
CONTACT: Human Genome Sciences Inc.
William A. Haseltine, Ph.D.
301/309-8504
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