Takeda Pharmaceutical Co. Ltd. and Envoy Therapeutics, Inc., have formed a three-year research alliance aimed at discovering drugs for schizophrenia with greater efficacy and safety than current therapies. Takeda will make a $3 million upfront payment as well as provide $2.25 million per year in research funding and fees. Envoy will also receive success-based milestone payments and royalties should one or more compounds advance to clinical development and commercialization. Envoy’s “bacTRAP” ...