Samsung Bioepis announced that it has entered into a strategic collaboration agreement with Takeda Pharmaceutical Company Limited (TSE: 4502) to jointly fund and co-develop multiple novel biologic therapies in unmet disease areas. The two companies will immediately begin working on the program’s first therapeutic candidate, TAK-671, which is intended to treat severe acute pancreatitis.

“Takeda’s extensive knowledge and expertise in drug development makes the company an ideal partner for us as we open a new chapter at Samsung Bioepis,” said Christopher Hansung Ko, President and CEO, Samsung Bioepis. “Five years ago, we entered the biopharmaceutical industry with a strong determination to transform the way therapies are brought to patients by replacing legacy processes with new and innovative ones. Together with Takeda, we look forward to realizing this vision by accelerating the development of effective therapies for patients who are currently without a viable treatment option.”

The risk-sharing partnership brings together Samsung Bioepis’ agile biologics development platform with Takeda’s best-in-class experts in drug development to co-fund and collaboratively develop innovative therapies representing meaningful value to patients who need them. Additional terms of the collaboration are not being disclosed.

“At Takeda, we think differently – and creatively – about what makes a partnership successful and look to build on our strengths by collaborating with partners who have complementary expertise,” said Daniel Curran, M.D., Head, Center for External Innovation, Takeda. “This collaboration with Samsung Bioepis does that, by combining our unique capabilities in development and manufacturing along with fresh and innovative clinical approaches, we will maximize the potential for successful introduction of important medicines to patients.”