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Vancouver, Canada - Xenon Pharmaceuticals Inc., a privately held company engaged in developing novel small molecule therapies for select neurological, cardiovascular and metabolic diseases, today announced that Takeda Research Investment, Inc. (TRI) has made a strategic equity investment of USD $5M in the Company. In addition, TRI and Xenon have entered into an agreement where Takeda Pharmaceutical Company Limited, through TRI, receives a Right of First Negotiation to select atherosclerosis discoveries made by Xenon.
“We’re delighted to have TRI as a new investor in Xenon”, stated Dr. Simon Pimstone, Xenon’s President and CEO. “This investment provides further validation of our Company, and the quality of our R&D. It is also important as it builds closer ties with a leading Japanese pharmaceutical company and one that is building a very significant global presence”.
Atherosclerosis is a process resulting in the formation of plaques that eventually narrow the coronary arteries causing coronary heart disease. Coronary heart disease is the most common form of heart disease, and remains the single most common cause of death for both men and women in Western countries.
“We are very pleased with this strategic investment in Xenon and are excited about their clinical genetics approaches to atherosclerosis which is a therapeutic area of significance for Takeda” commented Dr. Graeme Martin, TRI’s President & CEO.
About Xenon Pharmaceuticals Inc. (Xenon)
Xenon is a privately owned, clinical genetics-based drug discovery and development company engaged in developing small molecule therapies based on the genetic causes of select metabolic, neurological and cardiovascular diseases. Xenon’s lead products include XEN401 (pain) and XEN501 (cardiac arrhythmia), both of which are in IND-enabling pre-clinical development. For more information, visit the Company's website at www.xenon-pharma.com.
About Takeda Research Investment, Inc. (TRI)
Located in Palo Alto, California, Takeda Research Investment, Inc. (TRI) is a wholly owned subsidiary of Takeda Pharmaceutical Company Limited (TPC), the largest pharmaceutical company in Japan. TRI’s mission is to identify, help create and support the development of new therapeutic drug discovery opportunities worldwide as a strategic investor on behalf of TPC. The primary focus of TRI is on medium- and long-term returns in the form of products and technologies for Takeda group. Takeda is committed to striving toward better health for individuals and progress in medicine by developing superior pharmaceutical products. To learn more about the company, visit www.tri-takeda.com
For more information regarding this press release, contact:
Xenon Contacts
Dr. Simon Pimstone
President & CEO
Phone: (604) 484-3300
Email: ddunn@xenon-pharma.com
Vijay Sondhi
CFO
Phone: (604) 484-3300
Email: vsondhi@xenon-pharma.com
TRI Contacts
Dr. Graeme Martin
President & CEO
Phone:
+1 650 328 2900
Email: graeme.martin@tri-takeda.com
Dr. Yuji Iizawa
Senior Vice President
Phone:
+1 650 328 2900
Email: yuji.iizawa@tri-takeda.com
This release contains forward-looking statements that are not based on historical fact. These forward-looking statements involve risks, uncertainties and other factors that may cause the actual results, events or developments to be materially different from those expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on such forward-looking statements.
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