On February 26, Takeda Pharmaceutical Company Limited (Takeda) announced that it has acquired PvP Biologics, Inc. following the conclusion of a Phase 1 proof-of-mechanism study of investigational medicine TAK-062 (Kuma062) for the treatment of uncontrolled celiac disease. Wilson Sonsini Goodrich & Rosati advised PvP Biologics as to intellectual property matters in the transaction.

TAK-062 is a potential best-in-class, highly potent super glutenase—a protein that degrades ingested gluten—that was computationally engineered to treat celiac disease, a serious autoimmune disease where the ingestion of gluten leads to inflammation and damage in the small intestine. The Phase 1 study investigated TAK-062’s safety and tolerability in both healthy volunteers and people with celiac disease. The ability of TAK-062 to degrade ingested gluten was studied in healthy volunteers. Takeda plans to submit data from the Phase 1 study for presentation at an upcoming medical congress.

Under the terms of the agreement, Takeda exercised its option to acquire PvP Biologics for a pre-negotiated upfront payment as well as development and regulatory milestones totaling up to $330 million. Takeda and PvP Biologics previously entered into a development and option agreement, under which PvP Biologics was responsible for conducting research and development through the Phase 1 proof-of-mechanism study of TAK-062 in exchange for funding by Takeda related to a pre-defined development plan.

Adam Simpson, president and chief executive officer of PvP Biologics, said, “Takeda has been a great partner and has the expertise, resources, and commitment to people living with celiac disease required to lead the next stage of TAK-062 development.”

The Wilson Sonsini team that advised PvP Biologics on IP matters in the transaction includes senior counsel Clark Lin.