Millennium will be involved in cancer drug test
Two Japanese companies, CanBas Co. Ltd. and Takeda Pharmaceutical Co. Ltd., said they will advance into a Phase II trial a drug candidate called CBP501, a potential treatment for patients with non-small cell lung cancer.
Just over a year ago, Takeda acquired Millennium Pharmaceuticals Inc., a Cambridge company that makes an anti-cancer drug called Velcade, for $8.8 billion. It remains the biggest deal in the history of the Massachusetts biotechnology industry. After the acquisition, Millennium was renamed Millennium: The Takeda Oncology Co. (To read a Globe story about that acquisition, please click here.)
In today's press release, Takeda said that Millennium will be involved with developing CBP501.
According to the press release, "current pre-clinical data suggest that CBP501 has the potential to induce cancer cell death through a mechanism of action that blocks the ability of cancer cells to transition through the cell cycle."
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