Protagonist Therapeutics signs $300M upfront collaboration with Takeda for rusfertide

Protagonist Therapeutics, Inc

Takeda pays $300M upfront within 30 days of HSR clearance; 50/50 profit-loss share in U.S.
Tiered royalties of 10-17% in ex-US territory; up to 29% if opt-out exercised.
Milestones up to $330M (no opt-out) or up to $975M (with opt-out); plus $400M opt-out payment potential.
Takeda leads global commercialization; Protagonist holds option to co-detail in U.S.
Takeda may terminate for convenience after Phase 3 data or 3rd anniversary of effective date.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Protagonist Therapeutics, Inc entered into License and Collaboration Agreement with Takeda Pharmaceuticals USA, Inc. valued at $300 million (effective 2024-01-31).

Action: entry
Agreement: collaboration
Counterparty: Takeda Pharmaceuticals USA, Inc.
Value: $300 million
Effective: 2024-01-31

Exact text from the filing

On January 31, 2024, Protagonist Therapeutics, Inc. (the “ Company ”) entered into a License and Collaboration Agreement (the “ Collaboration Agreement ”) with Takeda Pharmaceuticals USA, Inc. (“ Takeda ”) for the development, manufacture and commercialization of the Company’s rusfertide product candidate

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Protagonist Therapeutics, Inc filing history →

Source: SEC EDGAR

accession 0001104659-24-008787

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