Takeda gets option to buy T cell play GammaDelta

T cell therapy developer GammaDelta Therapeutics Ltd. (London, U.K.) granted Takeda Pharmaceutical Co. Ltd. (Tokyo:4502) an exclusive option to acquire the company as part of a discovery and development agreement targeting autoimmune and inflammatory diseases as well as cancers, including solid tumors.

Existing investor Abingworth and Takeda together will fund GammaDelta with up to $100 million, including an equity investment, an option fee and R&D funding. GammaDelta CEO Paolo Paoletti declined to disclose more specific terms. Takeda will also receive a GammaDelta board seat...