Samsung Bioepis is joining forces with Takeda Pharmaceutical to jointly fund and co-develop multiple novel biologic therapies in unmet disease areas, taking its first step towards developing new pharmaceuticals.

The parties’ initial focus will be on the development of TAK-671, which is intended to treat severe acute pancreatitis, where the pancreas becomes inflamed over a short period of time.

Terms of the deal were not revealed, but Samsung Bioepis said the risk-sharing partnership will bring together its biologics development platform with Takeda’s expertise in drug development.

“At Takeda, we think differently - and creatively - about what makes a partnership successful and look to build on our strengths by collaborating with partners who have complementary expertise,” said Daniel Curran, head of the Center for External Innovation at the Japanese firm.

“This collaboration with Samsung Bioepis does that, by combining our unique capabilities in development and manufacturing along with fresh and innovative clinical approaches, we will maximise the potential for successful introduction of important medicines to patients.”