Editor's Note:
Lilly Asia Ventures (LAV) led Regor Therapeutics' Series B financing in 2021 and was also the largest institutional shareholder of Regor before this transaction. The following news is reprinted from Regor Therapeutics' PR.
Main Text:
On September 30, Regor Therapeutics announced that it had reached an acquisition agreement with Genentech, a subsidiary of Roche, for the next-generation CDK inhibitors.
Under the terms of the agreement, Genentech will acquire Regor Therapeutics' next-generation CDK inhibitors with an upfront payment of $850 million. Regor Therapeutics is also eligible to receive additional cash payments based on the achievement of certain predefined development, regulatory, and commercialization milestones in the future. Genentech will be responsible for global clinical development, manufacturing, and commercialization efforts. Regor Therapeutics will continue to manage the two ongoing Phase I trials until completion. Regor will also advance its other differentiated assets unrelated to this transaction in the fields of oncology, metabolic diseases, and autoimmune disorders.
Dr. Xiaoyang Qiu, founder and CEO of Regor Therapeutics, said, "Genentech is fully capable of maximizing the potential of these novel therapies, benefiting breast cancer patients worldwide. We are proud of the robust data we have achieved so far. We look forward to bringing more innovative therapies to patients around the world."
The transaction is expected to be completed in the fourth quarter of 2024.
Cambridge, Massachusetts, September 30, 2024 - Regor Pharmaceuticals (USA) ("Regor") has entered into a definitive purchase agreement whereby Genentech, a member of the Roche Group, will acquire a portfolio of next-generation CDK inhibitors from Regor for the treatment of breast cancer.Under the terms of the agreement, Regor will receive an upfront cash payment of $850 million and is eligible to receive additional cash payments based on the achievement of certain predetermined development, regulatory and commercial milestones. Genentech will be responsible for clinical development, manufacturing and commercialization worldwide. Regor will continue to manage the two ongoing Phase 1 trials to their completion: Regor will also advance its other distinct assets, unrelated to this deal, in oncology, metabolic diseases and auto-immunity."Genentech is well-positioned to bring these novel therapeutics to their full potential to benefit patients with breast cancer around the world," said Xiayang Qiu, Ph.D., founder and CEO of Regor. " We are proud of the strong data we have generated to date. We look forward to bringing more innovative therapies to patients around the world."The proposed transaction is expected to close in the fourth quarter of 2024. The closing of the proposed transaction is subject to the satisfaction of customary closing conditions.BofA Securities, Inc. is acting as the exclusive financial advisor to Regor on this transaction, and Cohen, Tauber Spievack & Wagner PC and DLA Piper are its legal advisors.About Regor Pharmaceuticals (USA)Regor Pharmaceuticals (USA) is part of Regor Therapeutics Group, a clinical-stage biotechnology company developing innovative and clinically differentiated medicines to address large unmet needs in oncology, metabolism and auto-immunity. By leveraging the proprietary CARD (Computer Accelerated Rational Discovery) Platform, Regor Therapeutics Group has advanced over a dozen in-house discovered assets into various stages of preclinical and clinical development, validating its highly efficient ecosystem for accelerated discovery of innovative therapeutic agents. To learn more about Regor, please visit us at www.regor.com.
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