NEW YORK, April 29, 2019 (GLOBE NEWSWIRE) -- Emendo Biotherapeutics Inc. today announced that the company signed a licensing option agreement with Takeda Pharmaceutical Company Limited. As part of the transaction, Emendo will receive an investment in convertible notes from Takeda Ventures, Inc., the corporate venture arm of Takeda. The funds will be used to further advance Emendo's novel nuclease gene editing discovery platform and proprietary product development programs.
The licensing option agreement grants Takeda the option to use OMNI, Emendo's proprietary nuclease program, to edit two genes as part of its research and development efforts. Further, Emendo will apply its novel gene editing engineering platform to optimize the OMNI nuclease to have the highest specificity and activity on Takeda's chosen genes.
"Extending our investment in Emendo and licensing its nuclease discovery platform and gene editing technology is another example of Takeda's commitment to investing in transformative advances in science via mutually advantageous partnerships," said Takeda Ventures Senior Partner Rob Woodman.
The notes will be converted in Emendo's planned B round financing intended to allow the company to advance its high precision gene editing biotherapies into initial clinical trials. Emendo is moving several preclinical programs through optimization, in preparation for moving towards the clinic in a number of promising clinical indications.
Emendo's gene editing program, OMNI, enables extremely specific gene editing which minimizes off target cuts and allows for highly focused therapeutic intervention in complex genetic diseases.
Emendo's CEO, David Baram, says, "We're pleased to be working with an innovative global pharmaceutical leader such as Takeda. This agreement further positions Emendo as a leading, next-generation, high-precision, gene editing company and promotes its allele specific editing programs that can potentially cure severe genetic disorders."
About Emendo
Emendo is a genome editing company developing genetic medicines and cell therapies for severe diseases. Emendo's cutting-edge technology is based on its proprietary protein engineering and selection platforms, designed to generate ultra-specific and highly active CRISPR OMNI nucleases, carefully optimized per target sequence for generating safe and effective genetic solution. Emendo was established in 2015 with investments by OrbiMed Advisors LLP And Takeda Ventures, Inc. the corporate venture arm of Takeda Pharmaceuticals Limited.
For more information:
David Baram
President & CEO
David@emendobio.com
