Mitsubishi Tanabe Pharma is offering Dewpoint Therapeutics up to $480 million biobucks in a new research pact centering around a preclinical amyotrophic lateral sclerosis (ALS) program.
Mitsubishi Tanabe—the pharma arm of Japan’s Mitsubishi Chemical Group—will pay Dewpoint an undisclosed upfront payment that is included in the total $480 million deal value, according to a Dec. 4 release. Dewpoint will also be eligible to receive milestone payments, plus royalties.
The Japan-based pharma will then have the exclusive option to license the program and assume responsibility for global clinical development and commercialization of Dewpoint’s TAR DNA-binding protein 43 (TDP-43) small molecule condensate modulator (c-mod).
Mitsubishi Tanabe, the developer of ALS treatment Radicava, will work with the Boston biotech to advance the program, which was tied to improvement of several clinically relevant ALS biomarkers in animal models, according to the release.
The small molecule is designed to tackle the mislocalization of TDP-43, a key splicing factor involved across multiple neurodegenerative diseases and a main pathological feature present in over 97% of patients with ALS, according to Dewpoint.
“The success we’ve had so far with this c-mod in reversing ALS-associated pathology suggests that this compound may find future applications in other indications which share the TDP-43 condensatopathy,” Dewpoint CEO Ameet Nathwani, M.D., said in the release.
Dewpoint, a 2019 Fierce 15 honoree, aims to discover new drugs through biomolecular condensates, which are liquidlike droplets comprising proteins and RNA. The dysregulation of the condensates has been observed in many diseases, which is why Dewpoint believes these organelles can help drug historically “undruggable” targets.
The biotech has numerous discovery c-mod programs across various indications, including a Novo Nordisk partnership in diabetes and a cardiovascular pact with Bayer.
However, Dewpoint lost two Big Pharma partnerships last year, with Pfizer and Merck & Co. terminating deals for myotonic dystrophy type 1 and HIV, respectively. Shortly after, at the start of 2024, the biotech laid off 18 employees and narrowed its pipeline.
The company expects to file for an Investigational New Drug application for its most advanced asset, a beta catenin-targeting candidate designed to treat colorectal cancer, in the second half of next year.