Millennium Pharmaceuticals
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| Subsidiary | |
| Industry | Biotechnology, Pharmaceutical Company |
| Founded | 1993 |
| Defunct | 2014 |
| Headquarters | Cambridge, MA, United States |
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Key people
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Christophe Bianchi, President |
| Products | Velcade (bortezomib) for injection |
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Number of employees
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1200 (approx.) |
| Parent | Takeda Pharmaceutical Company |
| Website | www |
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 was founded in 1993. In its early years, Millennium focused on building science and business teams. Beginning in 1994, Millennium created more than 20 strategic alliances with leading pharmaceutical and biotechnology companies. These alliances provided Millennium with close to $2 billion of committed funding that was used to develop and enhance its pipeline.
A merger with Leukosite in 1999 brought the company its first drug close-to-market, Campath (alemtuzumab) Injection, and additional investigational drugs in clinical trials. In 2000, a merger with Cambridge Discovery Chemistry gave Millennium a strong presence in the United Kingdom and added to the organization more than 100 scientists with expertise in chemistry. In a strategic business decision, Campath was later sold to the Millennium partner for the drug, ILEX Oncology, which in turn was acquired by Genzyme.
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