US based Prometheus Biosciences, Inc., a biopharmaceutical company committed to the discovery, development, and commercialization of a broad portfolio of novel precision therapeutics and companion diagnostics for patients living with unmet needs in gastroenterology and autoimmune diseases, announced that it has entered into a global, multi-target strategic collaboration with Japanese firm Takeda Pharmaceutical Company Limited (Takeda) to discover, develop, and commercialize novel therapies for inflammatory bowel disease (IBD).

The collaboration combines the proprietary bioinformatics discovery platform and companion diagnostic tools developed by Prometheus Biosciences with Takeda's expertise in gastroenterology and drug development, in order to discover and advance up to three targeted IBD therapeutics and companion diagnostics.  

Prometheus Biosciences will be responsible for the identification and validation of three unique drug targets for IBD, along with the development and commercialization of companion diagnostics to complement the targeted drugs. Takeda will be responsible for all drug discovery, clinical development, and commercialization activities for the resulting targeted therapeutics.

Under the terms of the agreement, Prometheus Biosciences will receive an undisclosed initial upfront payment from Takeda and is eligible to receive up to $420M in development, regulatory, and commercial milestone payments, in total, across all three programs. In addition, Prometheus Biosciences is eligible to receive royalty payments on global commercial sales from each program.