CanBas Co., Ltd. (Numazu, Shizuoka, "CanBas") and Takeda Pharmaceutical Company Limited (Osaka, "Takeda") together with its wholly-owned subsidiary Millennium: The Takeda Oncology Company (Cambridge, "Millennium") today announced the advancement of CBP501 into Phase II trials for the treatment of patients with malignant pleural mesothelioma. CBP 501 induces cancer cell death through a mechanism of action that blocks the ability of cancer cells to transition through the cell cycle. Data from the Phase I study indicates that when combined with selected chemotherapeutic drugs, CBP501 appears to enhance the anti-cancer cytotoxic activity of these established treatments.