Otsuka Pharmaceutical has signed an agreement to acquire all assets related to Cantargia's early-clinical stage CAN10 programme, an antibody in development as a drug candidate for autoimmune diseases.
CAN10 targets interleukin-1 receptor accessory protein (IL1RAP) with potent inhibitory effects on pro-inflammatory cytokines within the interleukin 1 (IL-1) superfamily — IL-1, IL-33 and IL-36 — which are associated with various inflammatory or autoimmune diseases.
Cantargia will receive a $33m upfront cash payment and up to an additional $580m in milestone payments, along with double-digit tiered earn-out payments from worldwide product sales.
The transaction is subject to customary closing conditions and regulatory approval, with expectations set for completion in the third quarter of 2025.
Otsuka Pharmaceutical president and representative director Makoto Inoue stated: "Otsuka Pharmaceutical is expanding its research and development pipeline in the field of autoimmune diseases by leveraging the antibody drug platform of our US subsidiary, Visterra, and the low-molecular-weight drug discovery platform of our US subsidiary Jnana Therapeutics.
“This will further expand and accelerate our research and development portfolio targeting various pathways associated with autoimmune diseases, enabling us to contribute to the lives of more patients."
Otsuka Pharmaceutical will take full responsibility for developing and commercialising CAN10 across the globe.
This entails directing all future development activities, seeking regulatory approvals, as well as exclusively managing manufacturing and sales operations worldwide.
Otsuka Pharmaceutical also gains access to 3G5, a backup antibody.
CAN10 is currently in a Phase I clinical trial.
Cantargia interim CEO Damian Marron stated: “This is a transformative transaction for Cantargia, and we hope for millions of patients suffering from severe immune-inflammatory disorders.
“We are delighted that the strong potential of our CAN10 anti-IL1RAP antibody has been recognised by Otsuka Pharmaceutical. It demonstrates confidence in the strength of our world-leading position in IL1RAP biology and antibodies and will allow us to drive forward our platforms and programs in oncology and other diseases.”
