Takeda Pharmaceutical Co. Ltd. on Nov. 2 announced it had discontinued work on the drug TAK-128, which has been under development for treatment of diabetic peripheral neuropathy, a diabetes complication that affects the nervous system.

Takeda said that after reviewing data obtained in Phase 2 clinical studies of TAK-128 in Japan, North America and Europe, it had concluded that TAK-128 did not show sufficiently encouraging results to support continuation of development activities.

TAK-128 was discovered by Mitsubishi Pharma Corporation, which had granted an exclusive worldwide right for the development and marketing of the drug to Takeda. The licensing arrangement was cancelled with Takeda's announcement.