Sosei Heptares lines up $1bn-plus windfall
Sosei Heptares, which has a major R & D Centre at Granta Park in Cambridge UK, has lined up a payback of more than $1 billion through a deal with Genentech in San Francisco.
The multi-target research collaboration and licence agreement with Roche Group company Genentech carries huge potential for novel medicine development as well as the megabucks cash haul.
The collaboration will combine the proprietary GPCR-focused structure-based drug design capabilities at Sosei Heptares with Genentech’s discovery, development and therapeutic area expertise directed towards multiple GPCR targets nominated by Genentech.
The nominated targets represent promising new therapeutic intervention points across a range of diseases.
Genentech will be responsible for developing and commercialising potential new medicines for each novel target and will have exclusive global rights to these agents.
Sosei Heptares is eligible to receive $26m in upfront and near-term payments as well as future milestone payments that may exceed $1 billion for achieving pre-specified research, development and commercialisation events.
Sosei Heptares is also eligible to receive royalty payments on the net sales of potential future medicines resulting from the technology collaboration.
Dr Malcolm Weir, executive VP and chief R & D officer of Sosei Heptares, said: “Sosei Heptares has strived to collaborate with leaders in the industry who appreciate the potential of combining their extensive drug development and commercialisation expertise with our world-leading GPCR structure-based drug design approach to generate and advance new therapeutics across multiple disease areas.
“We are therefore delighted to enter this new partnership with Genentech, one of the most innovative companies in the biopharmaceutical industry, and excited to see what the combination of our respective capabilities can deliver.”
In another lucrative deal, Sosei Heptares is to receive $2.5 million milestone payment from Formosa Pharmaceuticals Inc, based in Taiwan.
The payment follows IND approval from the US FDA for the first-in-human clinical trial of APP13007 for post-operative inflammation of the eye. Sosei Heptares remains eligible to receive undisclosed milestone payments based on the progression of the Activus’ pipeline at Formosa.