Takeda Pharmaceutical Co Ltd (NYSE:TAK) has signed up for a gene therapy pact, encoding a $2 billion biobucks deal with Code Biotherapeutics across four programs.

• The collaboration entails deploying Code's non-viral gene therapies against liver-directed rare disease and central nervous system conditions. 
• Through the agreement, Takeda and Code Bio will design and develop a targeted gene therapy leveraging Code Bio's 3DNA platform for a liver-directed rare disease program.
• The companies will conduct additional studies for central nervous system-directed rare disease programs. 
• Takeda has the right to exercise options for an exclusive license for four programs. 
• Under the agreement terms, Code Bio will receive double-digit million dollars in upfront, near-term milestones, and research funding payments. 
• Code Bio is also eligible to receive future development and commercial milestone payments plus tiered royalties with a potential total deal value of up to $2 billion if milestones for all four programs are achieved. 
• Takeda and Code Bio will collaborate on research activities up to candidate selection. After the option exercise, Takeda will assume responsibility for further development and commercialization.
• Price Action: TAK shares are down 1.89% at $15.06 during the market session on the last check Tuesday.