Takeda, MSKCC, Rockefeller and Weill deal
Memorial Sloan Kettering Cancer Center, Rockefeller University and Weill Cornell Medical College launched Bridge Medicines, a drug discovery company designed to advance candidates developed at the partners' Tri-Institutional Therapeutics Discovery Institute Inc. (Tri-I TDI). The research group said Takeda, Bay City Capital and Deerfield Management are partners in the launch.
In a 2013 deal, the research centers and Takeda founded Tri-I TDI to expedite early stage discovery into clinical treatments and therapies. The partners said candidates developed at Tri-I TDI can now "graduate" to Bridge Medicines, which is designed to provide financial, operational and managerial support for eligible projects though the IND stage. Bridge would then help establish independent companies to house the candidates. The investment partners are to assist in creating scientific and business development plans for the projects...