Shots:

• Code Bio to receive up front, near-term milestone, research funding & is also eligible to receive development & commercial milestone along with royalties with a total deal value of ~$2B upon the achievement of milestones for 4 programs
• The companies collaborated on research activities up to candidate selection. Takeda gets the right to exercise options for an exclusive license for 4 programs & will lead the development & commercialization of the product after the option exercise
• The agreement will use Code Bio’s 3DNA non-viral genetic medicine delivery platform to develop gene therapy for a liver-directed rare disease program & will conduct additional studies for CNS-directed rare disease programs

 Ref: Businesswire | Image: Takeda