Story excerpt provided by Crain’s Cleveland Business.
Written by Chuck Soder.
Japan’s biggest pharmaceutical company plans to invest $25 million in BioMotiv, a Shaker Heights company that aims to commercialize all sorts of new drugs.
The five-year investment gives Takeda Pharmaceutical Co. the right to make the first offer on any therapies BioMotiv develops related to heart disease, diabetes and other so-called cardiometabolic conditions, as well as any disease involving inflammation and the immune system.
Takeda will buy a “significant” minority stake in BioMotiv, according to Baiju Shah, the Shaker Heights company’s CEO.
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Originally published September 25, 2014.