CAMBRIDGE, England--(BUSINESS WIRE)--Crescendo Biologics Ltd (Crescendo), the developer of targeted T-cell engagers, today announced that it has achieved another technical milestone in its collaboration with Takeda Pharmaceutical Company Limited (Takeda; TSE:4502).

Crescendo’s global, strategic, multi-target collaboration and license agreement with Takeda was announced in October 2016. Under this agreement, Crescendo’s proprietary transgenic platform and engineering expertise is used to identify and configure Humabody^®-based therapeutics against certain targets selected by Takeda.

This milestone, for an undisclosed amount, marks the successful delivery of another highly diverse panel of functional Humabody^® leads against the second of Takeda’s selected targets. The achievement of an equivalent milestone related to the first of Takeda’s selected targets was announced in April 2018.

Dr Peter Pack, CEO of Crescendo, commented:

“Crescendo has once again demonstrated its ability to deliver, ahead of schedule, a diverse selection of functional Humabody^® molecules meeting the stringent specifications outlined in the collaboration agreement.

“Our highly productive relationship draws together Takeda’s deep oncology experience with Crescendo’s expertise in developing optimally configured Humabodies. Together we are fast progressing towards our goal of developing next generation, highly modular and multi-functional biologics against cancer. This is another important step forward for Crescendo and further validates the power of our innovative technology.”