Intra-Cellular Therapies has entered into a preclinical discovery deal with Takeda to develop and commercialize selective phosphodiesterase type 1 (PDE1) inhibitors for cognitive impairment associated with schizophrenia and a variety of psychiatric and neurological diseases, according to FierceBiotech.

ITI has retained the option to co-promote with Takeda in the U.S., and will be eligible for $500 million in development milestones plus another $250 million in sales-based milestones, along with tiered royalty payments.

Takeda will be solely responsible for development, manufacturing and commercialization of PDE1 inhibitors. ITI's PDE1 inhibitors are orally-available, preclinical-stage compounds.

"We are able to enhance our central nervous system pipeline, one of our core therapeutic areas, through this collaboration," said Shigenori Ohkawa, chief scientific officer for Takeda. “We plan to accelerate our R&D activities for this compound in an effort to bring this novel medicine to patients as quickly as possible."