Takeda Pharmaceutical Company (TKPYY) and Resolve Therapeutics jointly announced that they have entered into a partnership to develop compounds for the treatment of lupus and other autoimmune diseases. Takeda has the exclusive option to license the lead compound and all other compounds from the Resolve platform upon the completion of the Phase 1b/2a trial. Upon exercise of its option, Takeda would assume lead responsibility for worldwide development and commercialization of the Resolve products. Under the terms of the agreement, Takeda will help fund continued development of RSLV-132 through an initial payment of $8M to Resolve. Upon exercise of its option, Takeda would pay Resolve an option exercise fee, plus the potential for additional development milestones totaling $247M. Furthermore Resolve is eligible to receive royalties on product sales.