millennium pharmaceuticals , inc. , the takeda oncology company was a leading biopharmaceutical company based in cambridge , massachusetts .

millennium has gradually been absorbed by its parent takeda and renamed takeda oncology .

the company marketed velcade ( bortezomib ) for injection , a cancer product , and has a growing clinical development pipeline of product candidates .

millennium 's research , development and commercialization activities focused in two therapeutic areas : oncology and inflammation .

by applying its knowledge of the human genome , understanding of disease mechanisms and industrialized drug discovery platform , millennium developed a line of new product candidates .

it was one of the first companies to systematically search for genes linked to disease , but none of the drugs which it is marketing or has in clinical trial , with one partial exception , have been the results of that research .

on may 14 , 2008 , japanese company takeda pharmaceutical announced the completion of its acquisition of millennium for us$ 25.00 per share in cash — a deal worth $ 8.8 billion .

takeda completed the acquisition through a tender offer and subsequent merger of a wholly owned subsidiary of takeda into millennium .

millennium is now a wholly owned subsidiary of takeda .

millennium pharmaceuticals

ex - millennium : the takeda oncology company ceo to head envivo pharmaceuticals , inc .
millennium pharmaceuticals , inc . v . sandoz inc . ( fed . cir . 2017 )
patent docs : millennium pharmaceuticals , inc . v . sandoz inc . ( fed . cir . 2017 )
entyvio is a trademark of millennium pharmaceuticals inc . , registered with the u . s . patent and trademark office and is used under license by takeda pharmaceuticals america , inc .
additional information about millennium is available through its website , www . millennium . com .
xtuit pharmaceuticals inc . ( waltham , mass . ) hired deborah dunsire as president and ceo . dunsire was most recently president and ceo of forum pharmaceuticals inc . , and is a former president and ceo of the millennium pharmaceuticals inc . . . .
products portfolio | products | takeda pharmaceuticals u . s . a . , inc
©2018 millennium pharmaceuticals , inc . , a wholly owned subsidiary of takeda pharmaceutical group company limited . all rights reserved . 04 / 18
amitiza is a trademark of sucampo pharmaceuticals , inc . registered with the u . s . patent and trademark office and used under license by takeda pharmaceuticals america , inc .
excerpted with permission from
mastering the value chain : an interview with mark levin of millennium pharmaceuticals ,
harvard business review , june 2001 .
principal subsidiaries : millennium biotherapeutics , inc . ; millennium predictive , inc . ; cambridge discovery chemistry , inc .
actinium pharmaceuticals , inc . ranked in top 10 biotech / biopharmaceutical companies for 5th consecutive year
millennium pharmaceuticals is seeking a sr . by clicking the “apply” button , i understand that my employment application process with takeda will commence and . . .
excerpted with permission from
mastering the value chain : an interview with mark levin of millennium pharmaceuticals ,
harvard business review , june , 2001 .
preferably in pharmaceuticals . experience using millennium and / or empower software . analyze raw materials , finished products , and stability samples by hplc and . . .
millennium pharmaceuticals , inc . by clicking the “apply” button , i understand that my employment application process with takeda will commence and that i agree . . .
takeda pharmaceuticals ( asia pacific ) pte . limited and takeda clinical research singapore privated limited was established
prevpac is a trademark of takeda pharmaceuticals u . s . a . , inc . registered in the u . s . patent and trademark office and used under license by takeda pharmaceuticals america , inc .
mark levin , founder and ceo of millennium pharmaceuticals , has driven his company through numerous changes to exploit the opportunities created by this upheaval . in this interview excerpt with
millennium : the takeda oncology company , is a leading biopharmaceutical company based in cambridge , mass . , millennium was established in 1993 as a genomics company ( millennium pharmaceuticals , inc . ) and has grown into a fully - integrated biopharmaceutical company with a pipeline of innovative molecules focused in oncology .
colcrys is a trademark of takeda pharmaceuticals u . s . a . , inc . , registered with the u . s . patent and trademark office and used under license by takeda pharmaceuticals america , inc .
all trademarks are property of their respective owners . ©2018 millennium pharmaceuticals , inc . , a wholly owned subsidiary of takeda pharmaceutical company limited . all rights reserved . 04 / 18
agios pharmaceuticals hq , cambridge , ma . ceo , david schenkein , formerly of genentech and millennium , was voted one of fiercebiotech ' s top 25 most influential . . .
millennium pharmaceuticals , inc . v . sandoz inc . ( fed . cir . 2017 ) panel : circuit judges newman , mayer , and o ' malley opinion by circuit judge newman
agios pharmaceuticals is searching for a dynamic senior desktop engineer to join our growing information technology team . . . .
prevacid is a trademark registered in the u . s . patent and trademark office and solutab is a trademark of takeda pharmaceuticals u . s . a . , inc . and used under license by takeda pharmaceuticals america , inc .
millennium health offers a competitive , comprehensive benefits package . millennium health is an equal opportunity / affirmative action employer and e - verify . . .
takeda pharmaceuticals europe limited led operations in europe and accelerated strategies across europe with a mid - to long term perspective .
dexilant and dexilant ( with design ) are trademarks of takeda pharmaceuticals u . s . a . , inc . , registered in the u . s . patent and trademark office and used under license by takeda pharmaceuticals america , inc .
trintellix is a trademark of h . lundbeck a / s and used under license by takeda pharmaceuticals america , inc .
what is the work environment and culture like at millennium physicians g . . .
the transaction has been unanimously approved by the boards of directors of millennium and takeda .
mersana and takeda expanded their 2014 deal to create antibody - drug conjugates ( adcs ) comprised of antibodies from takeda’s millennium pharmaceuticals inc . subsidiary and cytotoxic payloads from mersana to treat cancer . the expanded deal will provide . . .
millennium pharmaceuticals , inc . , a leading biopharmaceutical company based in cambridge , mass . , markets velcade , a novel cancer product , and has a robust clinical development pipeline of product candidates . millennium ' s research , development and commercialization activities are focused in two therapeutic areas : oncology and inflammation . by applying its knowledge of the human genome , understanding of disease mechanisms and industrialized drug discovery platform , millennium is developing an exciting pipeline of innovative product candidates . millennium ' s website is urltoken .
the interview with protopapas shed light on her history at millennium and why she was tapped to take the helm . protopapas , 48 , joined millennium pharmaceuticals in 1997 and played a key role in the dealmaking activities that helped transform the company from a genomics platform operation to an integrated developer with a focus in oncology . as millennium ' s head of business development , she led the partnership discussions with takeda that evolved into buyout talks as takeda sought to acquire millennium ' s marquee myeloma drug velcade and other assets . she left her role at millennium in fall 2010 to head global business development for takeda , and she has kept that job along with her new responsibilities at millennium .
investor contacts : seizo masuda ( takeda ) ( 011 - 81 ) 3 - 3278 - 2037 masuda _ seizo @ urltoken kyle kuvalanka ( millennium ) ( 617 ) 761 - 4734 kyle . kuvalanka @ urltoken media contacts : matt kuhn ( takeda ) ( 224 ) 554 - 5609 mkuhn @ urltoken karen gobler ( millennium ) ( 617 ) 444 - 1392 karen . gobler @ urltoken source : millennium pharmaceuticals , inc .
millennium pharmaceuticals , inc . was acquired by takeda pharmaceutical company ltd . in may , 2008 . located in osaka , japan , takeda is a research - based global company with its main focus on pharmaceuticals . as the largest pharmaceutical company in japan and one of the global leaders of the industry , takeda is committed to strive towards better health for patients worldwide through leading innovation in medicine .
osaka , japan , and cambridge , mass . , april 10 / prnewswire - firstcall / - - takeda pharmaceutical company limited (
takeda
, tse : 4502 ) and millennium pharmaceuticals , inc . ( nasdaq : mlnm ) today announced that they have entered into a definitive agreement pursuant to which takeda will acquire millennium for approximately $ 8 . 8 billion through a cash tender offer of $ 25 . 00 per share . the transaction was unanimously approved by the boards of directors of both companies . upon completion of the acquisition , millennium will become a wholly - owned subsidiary of takeda pharmaceutical company limited , and will continue operations in cambridge , massachusetts , as a standalone business unit . millennium will be known as millennium pharmaceuticals , inc . , a takeda company .
millennium pharmaceuticals , inc . , was established in 1993 as a genomics company applying world - class recombinant technology to the discovery and development of innovative new therapies in a broad spectrum of diseases . in may , 2008 , millennium was acquired by takeda pharmaceutical company limited . millennium brings a strong oncology commercial presence and holds responsibility for the promotion of velcade within the united states . the commercial team at millennium offers services including full scale reimbursement assistance , patient advocacy , liaisons with global medical affairs as well as health system and oncology based specialists .
uloric is a trademark of teijin limited registered with the u . s . patent and trademark office and used under license by takeda pharmaceuticals america , inc .
the history of millennium pharmaceuticals inc . goes back to 1993 when the company was founded in a 3 , 000 - sf facility in cambridge , mass . although the company ' s history spans just more than a decade , it is chockfull of impressive achievements .
david champion , levin discusses millennium ' s move down the value chain over the last eight years .
millennium , a leading biopharmaceutical company based in cambridge , mass . , markets velcade , a novel cancer product , and has a robust clinical development pipeline of product candidates . millennium research , development and commercialization activities are focused in two therapeutic areas : oncology and inflammation . by applying its knowledge of the human genome , understanding of disease mechanisms and industrialized drug discovery platform , millennium is developing an exciting pipeline of innovative product candidates . additional information about millennium is available through its website , www . millennium . com .
kazano is a trademark of takeda pharmaceutical company limited registered with the u . s . patent and trademark office and used under license by takeda pharmaceuticals america , inc .
nesina is a trademark of takeda pharmaceutical company limited registered with the u . s . patent and trademark office and used under license by takeda pharmaceuticals america , inc .
oseni is a trademark of takeda pharmaceutical company limited registered with the u . s . patent and trademark office and used under license by takeda pharmaceuticals america , inc .
rozerem is a trademark of takeda pharmaceutical company limited registered with the u . s . patent and trademark office and used under license by takeda pharmaceuticals america , inc .
velcade is being co - developed by millennium pharmaceuticals , inc . and jjprd . millennium is responsible for commercialization of velcade in the u . s . , janssen - cilag is responsible for commercialization in europe and the rest of the world . janssen pharmaceutical k . k . is responsible for commercialization in japan . for a limited period of time , millennium and ortho biotech inc . are co - promoting velcade in the u . s . velcade is approved in more than 80 countries worldwide .
millennium was active on a number of fronts in 1997 . in an $ 89 million stock transaction , it acquired chemgenics pharmaceuticals , which allowed millennium to broaden its research into antibacterial drugs . the company also forged a new important alliance : a $ 218 million , five - year deal with monsanto inc . involving research into bioengineered crops . unlike previous partnerships , the agreement with monsanto was not as narrowly defined . because it wanted to maintain its focus on drugs , millennium essentially agreed to a technology transfer to a new monsanto unit , cereon genomics , which was set up next door . under this arrangement millennium received a hefty payment from monsanto yet was not saddled with the costs of adding personnel and equipment . also in 1997 millennium formed a pair of subsidiaries to enhance the value of the corporation . millennium biotherapeutics was established to develop therapeutic proteins , gene therapy , and antisense products . lilly immediately signed a $ 70 million , five - year deal to develop medicines from proteins , in the process gaining an 18 percent stake in the subsidiary . millennium next formed millennium predictive medicine to produce diagnostic tests using bioinformatics and proteomics .
ultimately , adams was turned down by more than 50 potential backers before proscript was acquired in 1999 by millennium pharmaceuticals inc . , which eventually funded studies of ps - 341 . i put so much of my life into this , there was no way i was going to give up ,  he said recently .
millennium is one of the world ' s leading biopharmaceutical companies , possessing a strong r & d pipeline in the oncology area . the company is a pioneer in the field of protein homeostasis research . by leveraging the complementary strengths of millennium and takeda , we will benefit from considerable synergies , both from millennium ' s excellence in knowledge , technology and experience in the oncology area .
millennium pharmaceuticals , inc . is a cambridge , massachusetts biotech company dedicated to the discovery and development of new drugs through the application of genomics , but what sets it apart from similar companies is its business model . since its foundation in 1993 , millennium has been highly successful in landing lucrative research and development contracts with major pharmaceutical firms . rather than signing blanket agreements , however , the company forms alliances that target specific diseases . this strategy allows it to forge lucrative relationships with a number of partners . essentially millennium leverages its advanced drug discovery technology platform to enable researchers to quickly identify genes that may be associated with a particular disease . rather than being content to just collect royalties from pharmaceuticals , millennium has designs on becoming a drug maker itself , although its few products are the result of acquisitions rather than internal development . nevertheless , millennium has built an organization that is now capable of discovering a new drug , taking it through clinical trials , and marketing it . the company concentrates on three fields : oncology , inflammation , and metabolic disease .
last month takeda pharmaceutical made some major changes at its oncology unit , millennium . millennium ceo deborah dunsire stepped down and company veteran anna protopapas stepped in as president of the company , which will no longer operate as autonomously as it had before the reorganization .
takeda to acquire millennium for us $ 25 . 00 per share in an all cash tender offer valued at $ 8 . 8 billion
demonstrated knowledge of cerner millennium applications , including design , build , testing and maintenance of pharmnet and medication process in powerchart . . . .
millennium : the takeda oncology company and seattle genetics , inc . initiate global phase 3 clinical trial of adcetris® in previously untreated advanced hodgkin lymphoma
millennium is a leading biopharmaceutical company . in the united states , millennium markets velcade ( r ) ( bortezomib ) for injection - a novel , market - leading oncology product approved in more than 85 countries . millennium has an innovation - driven discovery and development organization , which is advancing a pipeline of novel product candidates in oncology and inflammation . this includes a potential therapy for inflammatory bowel disease ( ibd ) , which is expected to enter phase iii clinical trials in late 2008 / early 2009 . millennium reported total revenues of approximately $ 528 million for 2007 .
actos , acto plus met , acto plus met xr , and duet act are trademarks of takeda pharmaceutical company limited registered with the u . s . patent and trademark office and used under license by takeda pharmaceuticals america , inc .
the acquisition is structured as an all cash tender offer for all of the outstanding shares of millennium common stock , followed by a merger in which remaining shares of millennium would be converted into the right to receive the same us $ 25 . 00 cash per share price paid in the tender offer .
seattle genetics , inc . gets conditional ok for adcetris & 0174 in eu ; triggers $ 25 million milestone payment from millennium : the takeda oncology company
millennium : the takeda oncology company and takeda pharmaceutical co . ltd . announce positive chmp opinion for conditional approval of adcetris® ( brentuximab vedotin ) in europe
creating a fun environment in the dining room and food services areas was accomplished with bright colors and soft seating . photo courtesy of millennium pharmaceutical inc .
in multiple anda litigations against multiple defendants , millennium pharmaceuticals , inc . had several of its asserted claims held invalid for obviousness at the district court . the federal circuit reversed these decisions earlier this week in an opinion styled millennium pharmaceuticals , inc . v . sandoz inc . the decision is consistent with recent trends at the court , reviewing both district court obviousness determinations as well as those by the ptab at the uspto ( see
securus technologies , inc . v . global tel * link corp . ( fed . cir . 2017 )
;
in re nuvasive ( fed . cir . 2016 )
) , putting a greater emphasis on fact findings consistent with the ultimate legal question of obviousness in addition to fully satisfying the legal requirements of section 103 of the patent statute .
seattle genetics , inc . and millennium : the takeda oncology company complete enrollment in phase 3 aethera trial of adcetris® for post - transplant patients with hodgkin lymphoma
deborah dunsire’s appointment to lead lundbeck tops this week’s list of new hires ; astellas , orchard therapeutics , voyager therapeutics , iteos therapeutics , cevec pharmaceuticals , sangamo therapeutics , cedilla therapeutics , tilos therepautics and neos therapeutics have also appointed new executives and directors .
2000
millennium products : over - the - top and on the market
codevelop drugs with partners . employees : 1 , 330 revenues : $ 196 million
the exterior and interior elegance of millennium pharmaceutical inc . ' s new building at 35 landsdowne st . in cambridge helped the company capture the laboratory of the year award from r & d magazine . judges also chose the building based on its developer - driven design and open floor plan . photo courtesy of millennium pharmaceutical inc .
the completion of new home offices in the united states for both takeda pharmaceuticals north america and the takeda global r & d center was a great achievement in order to continue to strengthen our presence in north america and fortify our operations in the u . s .
millennium : the takeda oncology company and seattle genetics , inc . highlight data from adcetris® ( brentuximab vedotin ) trial in patients with newly diagnosed systemic anaplastic large cell lymphoma
anda litigation arose when sandoz inc . , accord healthcare , inc . , actavis llc , mylan laboratories ltd . , agila specialties inc . , dr . reddy ' s laboratories , ltd . , dr . reddy ' s laboratories , inc . , sun pharmaceutical industries ltd . , sun pharma global fze , glenmark pharmaceuticals ltd . , glenmark generics ltd . , glenmark generics inc . , usa , hospira , inc . , wockhardt bio ag , and wockhardt usa llc ( collectively referenced as
sandoz
in the opinion ) each filed andas and sent paragraph iv letters to millennium over velcade ® . in separate litigations initiated after the first collection of lawsuits but before the district court had made its determination in those cases , millennium sued teva pharmaceuticals usa , inc . and apotex corp . and apotex inc . based on their anda filings and paragraph iv letters .
each year millennium hands out t - shirts emblazoned with the company ' s annual theme , reflecting the organizational and strategic challenges the company wants to address in that year .
takeda has been cutting costs after losing exclusivity on its top - selling drug actos for diabetes last year , and millennium has become one of many units to feel the pressure .
the acquisition of millennium accelerates takeda ' s vision of becoming a global leader in oncology with critical mass in the areas of oncology discovery , development , regulatory affairs and commercialization . millennium and takeda have complementary research , development and commercialization capabilities , which have the potential to create a powerful new drug development engine and accelerate the potential of an emerging drug pipeline .
millennium greatly strengthens takeda ' s global oncology portfolio , led by the flagship product velcade , and further enhances its pipeline with clinically differentiated , high - quality product candidates ,
said yasuchika hasegawa , president of takeda pharmaceutical company limited .
takeda is committed to becoming a global leader in oncology by delivering novel therapies that improve the standards of care for patients . millennium has strong discovery , development and commercial capabilities led by a well - established management team . we are pleased that dr . deborah dunsire , millennium president and chief executive officer , and the current management team intend to continue to lead the company . our strong desire is to retain millennium employees , who have created an entrepreneurial and innovative culture .
after gaining valuable experience in genomics , millennium researchers developed a way to narrow down the number of target genes . rather than conduct lengthy validation studies on each new gene , they concentrated on genes that reacted to known medicines . these so - called
druggable
genes were then studied , saving a considerable amount of time and effort . needing a partner to put this new technique into use , millennium turned to bayer ag , which because it was late to embrace biotechnology was willing to assume some risk in order to catch up with its rivals . bayer had been looking to team with a genomics company since late 1997 and by september 1998 agreed to a $ 465 million , five - year deal with millennium . under the terms of the agreement , millennium was to deliver 225 genomics - based proteins targeting cardiovascular diseases , cancer , osteoporosis , pain , liver fibrosis , hematology , and viral infections . in addition , bayer gained a 14 percent stake in millennium . it would be allowed to cherry - pick the target proteins , but the rights of 90 percent of the proteins would revert to millennium . although it still had no products on the market , millennium was able to post a $ 10 . 3 million profit for the year because of its pharmaceutical agreements .
since founding millennium pharmaceuticals in 1993 , ceo mark levin has grown his company from thirty employees to over one thousand . he has successfully kept pace with advancements impacting the biotechnology industry , such as the human genome project . his success comes , in part , from transforming his organization culturally as well as emphasizing and focusing on each precious link in the value chain . in this interview , hbr senior editor david champion interviews levin to reveal his past , present , and future strategy .
for more information about velcade clinical trials , patients and physicians can contact the millennium medical product information department at 1 - 866 - velcade ( 1 - 866 - 835 - 2233 ) .
the lease arrangement clearly defined the design and construction responsibilities shared by millennium and forest city . a construction schedule had been agreed upon by millennium , forest city , and the construction manager , and project responsibilities were shared by all parties . glitches which occurred along the way were quickly resolved as a result of the involved parties discussing the issues and negotiating the appropriate costs for revisions .
by march 1994 the first cash - rich pharmaceutical signed on with millennium . hoffmann - la roche agreed to pay $ 70 million over a five - year term to develop drugs to treat type ii diabetes and obesity , two target areas with the potential to generate large revenues . in july , levin named steven h . holtzman as chief business officer for the company . holtzman would be instrumental in the structuring of future agreements with pharmaceuticals , reserving as many rights as possible . millennium ' s next major alliance , and holtzman ' s first deal , came in october 1995 , a $ 50 million joint venture with eli lilly & co . focusing on atherosclerosis , the blocking of arteries by fatty deposits . two months later millennium signed a five - year , $ 60 million collaboration with swedish pharmaceutical astra ab , targeting inflammatory diseases such as asthma , hay fever , and bronchitis .
takeda expects that the acquisition will enhance takeda ' s earnings starting in the fiscal year ended march 2010 before transaction related amortization . the addition of millennium will enhance takeda ' s growth profile immediately .
as reported last month , the reorganization of cambridge , ma - based millennium , which takeda acquired for $ 8 . 8 billion in 2008 , will come at the expense of an undisclosed number of jobs . in an interview on june 10 , protopapas said that decisions about r & d jobs at millennium would likely be made by the end of this summer . based on her comments , it ' s clear that takeda is as interested as ever in growing its oncology business but has decided to do so with millennium as an integrated rather than autonomous group within the company - - and with fewer employees .
in june 2000 millennium landed another major deal with a pharmaceutical company , which in the process forwarded its long - term aspirations . france ' s aventis sa , europe ' s fourth largest pharmaceutical , agreed to pay $ 450 million in a complex five - year deal that called for the two parties to create , develop , and market a new line of anti - inflammatory drugs to treat such diseases as rheumatoid arthritis , asthma , and certain allergies . the two companies would share profits equally in any drugs sold in the united states and canada , and millennium was to receive a royalty in all other markets . it was a highly advantageous deal for millennium , but it was also of strategic importance to aventis , which had been formed in a $ 25 million merger in 1999 . a new management team conducted a thorough review of its operations to identify shortcomings . establishing a relationship with millennium was a quick and economical way for aventis to fill its needs . millennium then bolstered its ability to fulfill the aventis agreement by paying $ 53 million to acquire cambridge discovery chemistry , a british subsidiary with a large number of scientists experienced in pharmaceutical chemistry . moreover , the addition of cambridge discovery extended millennium ' s presence overseas .
founded in 1781 and located in osaka , japan , takeda is a research - based global company with its main focus on pharmaceuticals . as the largest pharmaceutical company in japan and one of the global leaders of the industry , takeda is committed to striving toward better health for individuals and progress in medicine by developing superior pharmaceutical products .
seattle genetics , inc . and millennium : the takeda oncology company initiate global phase iii clinical trial of adcetris® ( brentuximab vedotin ) in front - line cd30 - expressing mature t - cell lymphoma ( mtcl )
the new building , which was occupied in july 2002 , is the third developer - driven project millennium has worked on with forest city , which manages mit ' s university park . a fourth project , completed at 40 landsdowne st . in june 2003 , brought the total amount of space that millennium leases from forest city to about 800 , 000 sf , or more than 45 percent of the developer ' s portfolio in cambridge .
at first , levin turned to mayfield for $ 8 . 5 million in seed money , then raised additional money from other venture capital funds . his wife , who was an executive search professional , spent months looking for a suitable chief executive for the company before concluding that her husband was the only candidate with enough vision to run the business . although levin intended to head millennium on a temporary basis , as he had with earlier start - ups funded by mayfield , he ultimately decided to stay on as the permanent ceo . in december 1993 millennium pharmaceuticals was incorporated . levin leased space close to mit and within six months the company recruited a team of 30 scientists . it also began to establish its technology platform , in many ways a testament to levin ' s engineering background . a number of technologies , including robotics and computers , were combined with microbiology to create a complex , but efficient , production process . according to stipp , millennium began to
refine its platform . from major medical centers it obtained access to tissue samples from sick people - - researchers extract dna from such samples and scan it for genetic patterns correlated with diseases .
it was this platform that millennium offered to potential partners .
the lease agreement between millennium and forest city was signed in april 2000 with construction beginning in october 2000 . the project was completed in june 2002 at a total project cost of just under $ 55 million . the total base building construction cost was $ 18 . 4 million , while the total tenant construction cost was $ 45 . 9 million . the landlord contribution was $ 18 million , leaving millennium with a total cost of $ 37 million .
millennium went public in 1996 , netting $ 58 million . during the year the company ' s research efforts produced the first tangible results . a gene - based assay was produced for roche to screen for obesity drug candidates . millennium also identified a gene involved in the development of type ii diabetes , triggering a milestone payment from hoffman - laroche . furthermore , a gene - based test developed for eli lilly and company was used to identify atherosclerosis drug candidates .
frazier healthcare named brock hardaway as an operating partner on its growth buyout team . he was ceo at millennium health ( san diego , calif . ) . water street healthcare partners named nicklaus daley vp . he was an associate . . .
millennium officials incorporated the lessons they learned during completion of the 35 landsdowne project into the design and construction of the building at 40 landsdowne st . the design team was able to plan for uncertainty and to design flexibility into the project budget .
ubs investment bank is acting as exclusive financial advisor and edwards angell palmer & dodge llp is acting as legal advisor to takeda . goldman , sachs & co . is acting as exclusive financial advisor and wilmerhale is acting as legal advisor to millennium .
safety huddles , containing first - aid and precautionary equipment , are located at the entrance to each lab . the building , classified as a type 1 high hazard facility , adheres to all relevant safety codes . photo courtesy of millennium pharmaceutical inc .
the design team , led by millennium with forest city as the developer , set out to build the state - of - the - art lab with a clear set of goals that focused on supporting millennium ' s research and business mission of enabling science . the labs , designed to accommodate different science functions , can be quickly and easily modified to suit future needs in a manner that is time - sensitive and cost - conscious . major building modifications must be pre - approved by forest city .
the tender offer for the outstanding common stock of millennium referred to in this press release has not yet commenced . this press release is neither an offer to purchase nor a solicitation of an offer to sell any securities . the solicitation and the offer to buy shares of millennium common stock will be made pursuant to an offer to purchase and related materials that mahogany acquisition corp . intends to file with the u . s . securities and exchange commission . at the time the tender offer is commenced , mahogany acquisition corp . will file a tender offer statement on schedule to with the u . s . securities and exchange commission , and thereafter millennium will file a solicitation / recommendation statement on schedule 14d - 9 with respect to the tender offer . the tender offer statement ( including an offer to purchase , a related letter of transmittal and other offer documents ) and the solicitation / recommendation statement will contain important information that should be read carefully and considered before any decision is made with respect to the tender offer . these materials will be sent free of charge to all stockholders of millennium . in addition , all of these materials ( and all other materials filed by millennium with the u . s . securities and exchange commission ) will be available at no charge from the u . s . securities and exchange commission through its website at http : / / www . sec . gov . investors and security holders may also obtain free copies of the documents filed with the u . s . securities and exchange commission by millennium at urltoken .
through this integration , takeda reinforced its marketing and development functions in the u . s . , as well as further promote efficiencies throughout its business operations . in agreement with abbott laboratories , tap became a wholly - owned subsidiary of takeda and was merged into takeda pharmaceuticals north america , inc . ( tpna ) , and subsequently tap ' s development function was integrated into takeda global research & development center inc . ( tgrd ) .
through this integration , takeda reinforced its marketing and development functions in the u . s . , as well as further promoted efficiencies throughout its business operations . in agreement with abbott laboratories , tap became a wholly - owned subsidiary of takeda and was merged into takeda pharmaceuticals north america , inc . ( tpna ) , and subsequently tap ' s development function was integrated into takeda global research & development center inc . ( tgrd ) .
the feedback has been overwhelmingly positive ,
says pratt .
the most positive reactions have been regarding the openness and flow of the space and the fact that requests for modifications have been expedited because of the decision by millennium to invest in the mechanical infrastructure upfront .
however , proscripts money troubles worsened after the death of venture capitalist wallace steinberg in 1997 . steinberg , cofounder of healthcare ventures , had been willing to take a chance on a new approach to treating cancer , but other financiers were less impressed , and , by june 1999 , proscript was too broke to carry out the large - scale human tests necessary for fda approval . healthcare ventures , which owned all proscript stock , sold it to another cambridge firm , leukosite , for $ 2 . 7 million . three months after that , millennium pharmaceuticals , another cambridge firm , bought leukosite for $ 635 million , mainly to gain control of leukosites experimental drugs for inflammation . proscripts cancer drug was little more than an afterthought .
・url pharma , inc . : added the leading product colcrys ( colchicine ) to our portfolio for the treatment of gout flares . ・multilab indústria e comércio de produtos farmacêuticos ltda . : greatly expanded our presence and product portfolio in brazil . ・ligocyte pharmaceuticals , inc . : strengthened our vaccine business . ( currently takeda vaccines ( montana ) , inc . ) ・envoy therapeutics , inc . : strengthened our drug discovery platform to enable the identification of novel targets .
with regard to judgment against millennium in favor of teva and independently the apotex companies , all parties agreed that dismissal would be and accordingly was vacated and the case remanded , giving these generic drug makers a chance to make their invalidity cases against the asserted claims of the ' 446 patent .
millennium : the takeda oncology company combines the innovative science of a leading american biopharmaceutical company with the global assets – both intellectual and fiscal – of japan ' s largest pharmaceutical company . our mission is to deliver extraordinary medicines to patients with cancer worldwide through our science , innovation , and passion .
millennium ' s senior management team had established a list of core and cultural requirements that were incorporated into the design goals . core requirements included the need for safe , flexible , convertible , and expandable space . cultural requirements reflected the need for a fun environment with open , interactive work areas .
our company markets velcade® ( bortezomib ) for injection , a leading global cancer therapy for the treatment of patients with multiple myeloma and relapsed mantle cell lymphoma . velcade is co - developed by millennium and janssen pharmaceutical companies . millennium is responsible for commercialization of velcade in the u . s . ; janssen pharmaceutical companies are responsible for commercialization in europe and the rest of the world . takeda pharmaceutical company limited and janssen pharmaceutical k . k . co - promote velcade in japan . velcade is approved in more than 90 countries and has been used to treat more than 350 , 000 patients worldwide .
pharmalot ' s interview with protopapas last week touched on the merits of autonomous biotech units within large pharma companies . the millennium shakeup closely followed glaxosmithkline ' s decision to close the labs of sirtris , which the london - based drug giant bought in 2008 and had kept open to continue its research .
armed with the good news , adams and anderson had dinner with top millennium executives at the blue room in cambridges kendall square where , on the spot , chief executive mark levin agreed to fund full clinical trials of the drug . i will be forever grateful for that day ,  recalled anderson .
of our technology platform throughout our business , from the discovery of disease - related genes , to the development of drugs to specifically address these diseases , to the management of patients affected by these diseases . as a result , we speak of our technological approach as being applicable from
gene to patient .
we have entered into research , development and commercialization arrangements with major pharmaceutical and biotechnology companies relating to a broad range of therapeutic and predictive medicine products and services . these alliances provide us with the opportunity to receive royalties and profit sharing , if we and our alliance partners are successful in developing and commercializing products . in addition , these alliances provide substantial funding for our research and development and the continued enhancement of our technology platform . we were incorporated in delaware in 1993 . our principal executive offices are located at 75 sidney street , cambridge , ma 02139 and our telephone number is ( 617 ) 679 - 7000 . unless the context otherwise requires , the terms
millennium ,
we ,
us
and
our
refer to millennium pharmaceuticals , inc . and its subsidiaries .
cambridge , mass . , sept . 18 / prnewswire - firstcall / - - millennium pharmaceuticals , inc . ( nasdaq : mlnm ) today announced that the interim analysis results of the large , international phase iii vista ( 1 ) trial in patients with newly diagnosed multiple myeloma showed that the therapy of velcade , melphalan and prednisone ( vmp ) demonstrated a highly statistically significant improvement in all efficacy measures , including time - to - disease progression , complete remission rate , progression - free survival and overall survival , compared to melphalan and prednisone ( mp ) alone . based on the recommendation of an independent data monitoring committee ( idmc ) , which conducted the planned interim , the control arm of the trial was stopped early to allow patients still being treated with mp to have velcade added to their therapy .
takeda pharmaceuticals ( asia pacific ) pte . limited ( tpap ) , based in singapore , is responsible for the strategic and commercial operations in australia , thailand , philippines , indonesia , india , malaysia and singapore . fully integrated into the global development organization , takeda clinical research singapore ( currently operating under the name tdc asia ) serves as a regional hub for non - oncology clinical development . tdc asia seeks to bring innovative products to people through a pipeline that includes compounds in a variety of therapeutic areas .
the newest building at 40 landsdowne street has eight floors , consists of 230 , 000 sf , and is similar to its predecessor at 35 landsdowne with a mix of office space , as well as chemistry and biology labs . the landlord contribution was $ 19 million , leaving millennium with a total cost of $ 30 million .
karen ferrante , millennium ' s chief medical officer , heads oncology r & d and reports directly to takeda ' s global head of research , tachi yamada , a former chief of research for glaxosmithkline ( $ gsk ) and more recently the bill & melinda gates foundation . like protopapas , yamada reports to takeda ceo yasuchika hasegawa .
the boston - based architectural firm of elkus / manfredi brought a sense of creativity to millennium ' s goal of developing a dynamic environment . bright colors and comfortable seating invite occupants to enjoy the restaurant - style dining room , the food service area with a fully functioning kitchen , a coffee bar , and private rooms for meetings .
takeda america holdings , inc . , which is wholly - owned by takeda , has established mahogany acquisition corp . as a wholly - owned subsidiary to effect the transaction . in the merger that follows completion of the tender offer , mahogany acquisition corp . will be merged into millennium , and the surviving entity will be an indirect wholly - owned subsidiary of takeda .
the transaction is subject to the tender of a majority of millennium common stock on a fully diluted basis as well as other customary closing conditions , including expiration of the applicable waiting period under the hart - scott - rodino antitrust improvements act of 1976 and the antitrust laws of applicable foreign jurisdictions . the transaction is expected to close in the second - quarter of 2008 .
in conjunction with this news release , millennium will host a webcast today , tuesday , september 18 , 2007 at 8 : 00 a . m . et . this webcast can be accessed by visiting the investors section of the company ' s website , urltoken . following the webcast , an archived version of the call will be available at the same address for 30 days .
this press release contains
forward - looking statements
that involve significant risks and uncertainties . all statements other than statements of historical fact are statements that could be deemed forward - looking statements , including : statements regarding the anticipated timing of filings and approvals relating to the transaction ; statements regarding the expected timing of the completion of the transaction ; statements regarding the ability to complete the transaction considering the various closing conditions ; any statements of expectation or belief ; and any statements of assumptions underlying any of the foregoing . investors and security holders are cautioned not to place undue reliance on these forward - looking statements . actual results could differ materially from those currently anticipated due to a number of risks and uncertainties . risks and uncertainties that could cause results to differ from expectations include : uncertainties as to the timing of the tender offer and merger ; uncertainties as to how many of the millennium stockholders will tender their stock in the offer ; the risk that competing offers will be made ; the possibility that various closing conditions for the transaction may not be satisfied or waived , including that a governmental entity may prohibit , delay or refuse to grant approval for the consummation of the transaction ; the effects of disruption from the transaction making it more difficult to maintain relationships with employees , licensees , other business partners or governmental entities ; other business effects , including the effects of industry , economic or political conditions outside of millennium or takeda ' s control ; transaction costs ; actual or contingent liabilities ; and other risks and uncertainties discussed in documents filed with the u . s . securities and exchange commission by millennium , as well as the tender offer documents to be filed by mahogany acquisition corp . and the solicitation / recommendation statement to be filed by millennium . neither millennium nor takeda undertakes any obligation to update any forward - looking statements as a result of new information , future developments or otherwise .
safety codes restrict the use of chemicals on the upper floors of a building without the type 1 high - hazard classification . millennium achieved the classification by designing a plan that features a fire - control barrier between the labs and the office space , a forward - thinking layout that will meet future building codes . three lab entrance / exit points on every floor provide an added safety measure .
along with our increased capacity in oncology comes an increased accountability for success . our goal is to become a global leader in providing medicines that fundamentally improve the lives of patients with cancer . specifically , our aim is to be a top - three global oncology company by 2020 . in the most competitive of therapeutic categories , this is an audacious goal , but one worthy of millennium and takeda .
millennium was a child of this revolution as well . our main contribution thus far has been advances in research technologies : we ' ve found ways to speed up the search for genes and proteins through information technologies and automation . our biosensor technology , for instance , uses customized microchips to analyze interactions among proteins and between proteins and small molecules in tiny samples , far smaller than was previously the norm .
an approval in front - line multiple myeloma would double the number of patients eligible to receive the benefit of velcade ,
said nancy simonian , m . d . , chief medical officer , millennium .
we are confident that velcade based therapies will become standard of care , since physicians typically use the most active agents in the front - line setting to improve long - term outcomes for patients .
team members were confronted with a local subcontractor overload and difficulty in getting structural steel delivered on time as a result of extensive work taking place in the boston area , exclusively the big dig project . a 15 - percent cost premium was encountered , especially with the mechanical , electrical , and plumbing trades . approximately $ 1 million in design changes were necessary due to millennium program changes that occurred while maintaining the original fast - track schedule .
the fields of genomics , biotechnology and pharmaceuticals are highly competitive . many of our competitors are substantially larger than we are and have substantially greater capital resources , research and development staffs and facilities than we have . furthermore , many of our competitors are more experienced than we are in drug discovery , development and commercialization , obtaining regulatory approvals and product manufacturing and marketing . as a result , our competitors may identify genes associated with diseases or discover , develop and commercialize products or services based on such genes before we do . in addition , our competitors may discover , develop and commercialize products or services which render non - competitive or obsolete the products or services that we or our strategic alliance partners are seeking to develop and commercialize .
ive been in the oncology business for 30 years and that was the first time i have ever seen anything like that ,  recalled dr . joseph bolen , then the chief of oncology at millennium . coupled with positive lab results from the national cancer institute , extensive animal testing at proscript and other human tests at memorial sloan kettering cancer center in new york , backers of ps - 341 now had enough evidence to push for large - scale human testing .
the case involved velcade ® , millennium ' s oncology product prescribed for multiple myeloma and mantle cell lymphoma and protected by u . s . patent no . 6 , 713 , 446 (
the ' 446 patent
) . as described in the federal circuit opinion , the ' 446 patent is directed to d - mannitol n - ( 2 - pyrazine ) carbonyl - l - phenylalanine - l - leucine boronate ( a d - mannitol ester of bortezomib ) :
a solution came from a researcher at the national cancer institute and the university of kansas , as disclosed and claimed in the ' 446 patent ( licensed by millennium ) . this researcher had encountered difficulties with bortezomib similar to the millennium researchers (
preparing approximately twenty - five different liquid formulations
) and then turned to lyophilized forms . lyophilization was a known technique that was
not intended to change the chemical structure of the active pharmaceutical ingredient .
during these experiments , lyophilization in the presence of d - mannitol was performed using the sugar for its recognized properties as a bulking agent . the resulting lyophilized formulation was found to have
dramatic improvement in dissolution and stability .
presumably ( in view of the court ' s decision ) unexpectedly ,
[ i ] t was discovered that the reason for the dramatic improvement in dissolution and stability for this formulation was the formation of a new chemical compound during lyophilization : the claimed ester of bortezomib and mannitol .
but the drug nearly stalled several times as scientists struggled to get financial support for a new approach to fighting disease and disagreed among themselves about what ps - 341 should be used for  some wanted to focus on conditions like arthritis . the founders and executives at proscript  and later millennium  made smart choices that helped them survive , such as enlisting the aid of national cancer institute scientists to refine their drug and working closely with academic laboratories and the food and drug administration to speed the safety review .
but adams , along with anderson , a multiple myeloma specialist at dana - farber , continued to promote the drug to millennium , and the university of north carolina continued preliminary human tests that showed the drugs potential against several types of cancer . finally , in august 2000 , the first patient with multiple myeloma received ps - 341 in north carolina and the results stunned everyone involved : the 47 - year - old womans cancer went into complete remission even though she had been given a low dose of the drug intended mainly to evaluate its safety .
today , the company employs approximately 1 , 700 full - time employees , and occupies more than 700 , 000 sf at seven sites in cambridge . millennium ' s most recent accomplishment came in 2003 when r & d magazine presented the company with the laboratoryof the year award for its new seven - story building at 35 landsdowne st . judges for the competition chose the building based on its developer - driven design with built - in flexibility ,
see and be seen
open floor plans , and the elegance of both its interior and exterior .
we are extremely proud of the commitment and passion of our employees , who have built this vibrant organization . we look forward to continued success as we join the takeda group ,
said deborah dunsire , m . d . , president and chief executive officer , millennium .
both companies share a common vision to develop breakthrough medicines for patients , become a global leader in oncology and expand the global reach of our ibd product candidates . we expect this transaction to help accelerate that vision and deliver tremendous value to patients , shareholders and our employees .