Shots:

• Takeda to receive $120M as upfront in cash- ~ $495M as development milestones- and ~$1.4B as commercial milestones along with royalties on net sales of the therapies. Takeda retains the ability to opt-in or out of a 50:50 profit share on all clinical programs at certain development events
• For any asset in which Takeda shares equal profit- Takeda will not receive development or commercial milestones. Neurocrine get an exclusive license for seven pipeline programs- including three clinical-stage assets for schizophrenia- treatment-resistant depression- and anhedonia
• The collaboration involves three clinical program includes TAK-831- TAK-653- TAK-041 and the rights to four preclinical programs

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Ref: Takeda | Image: Takeda