Thursday, January 5, 2017

PVP Biologics Gets $35M From Takeda

PVP Biologics, a biopharmaceuticals firm which is developing treatments for celiac disease, has received $35M from Takeda Pharmaceutical Company Limited, the companies announced on Thursday. PVP Biologics has its research and development laboratories in Seattle, and is based on technology invented at the Institute for Protein Design at University of Washington. The two said that Takeda will fund $35M in expenses for PVP Biologics, in exchange for an exclusive option to acquire PvP. PVP said it is developing an enzyme therapy, which breaks down the immune-reactive parts of gluten in the stomach, which cause the painful symptoms and damage due to gluten ingestion in patients.