Singapore

CARMINE Therapeutics, a biotech firm developing non-viral gene therapies for rare diseases, on Wednesday said it has signed a US$900 million research agreement with Takeda Pharmaceutical Company to discover, develop and commercialise two rare-disease drugs.

The company will receive an upfront payment to support its research, but the remaining amount will be doled out when the firm hits milestones such as pre-clinical studies, clinical trials and during commercialisation. Tiered royalties are also included in the deal.