Code Biotherapeutics, Inc. announced a collaboration and option agreement with Takeda to leverage Code Bio's proprietary targeted 3DNA® non-viral genetic medicine delivery platform to design and develop gene therapies for rare disease indications. Through the agreement, Takeda and Code Bio will design and develop a targeted gene therapy leveraging Code Bio's 3DNA platform for a liver-directed rare disease program, plus conduct additional studies for central nervous system-directed rare disease programs. Takeda has the right to exercise options for an exclusive license for four programs. Under the terms of the agreement, Code Bio will receive double-digit million dollars in upfront, near-term milestone and research funding payments. Code Bio is also eligible to receive future development and commercial milestone payments plus tiered royalties with a potential total deal value over the course of the partnership of up to $2 billion if milestones for all four programs are achieved.

Takeda and Code Bio will collaborate on research activities up to candidate selection. After option exercise, Takeda will assume responsibility for further development and commercialization.