On January 5, 2017, Takeda Pharmaceutical Company and PvP Biologics announced a global agreement for the development of KumaMax, a novel enzyme designed to break down the immune-reactive parts of gluten in the stomach, thereby avoiding the painful symptoms and damage done in the small intestine from accidental gluten ingestion. Wilson Sonsini Goodrich & Rosati is representing PvP Biologics in the transaction.

Under the terms of the development agreement, PvP will conduct all research and development through phase one proof-of-principle studies per a pre-defined development plan. Takeda will fund $35 million for PvP's expenses related to the plan in exchange for an exclusive option to acquire PvP following receipt of a pre-defined data package. Upon PvP's successful completion of the development plan, Takeda may exercise its option to acquire PvP by paying an undisclosed fee as well as development and regulatory milestones.

For more information, click here to read the companies' joint press release.