Hookipa Terminates $1B Collaboration with Roche on HB-700, Announces 30% Workforce Reduction and Pipeline Reprioritization

On January 29, Hookipa announced that it had received a notice from Roche terminating the HB-700 project cooperation agreement, and the company would regain global development rights to the HB-700 project.

Hookipa stated that it will prioritize the development of HPV-related cancer drug HB-200 and two infectious disease projects in collaboration with Gilead, while pausing further development of preclinical projects and HB-300. Due to the pipeline update, Hookipa plans to cut approximately 30% of its workforce and rebalance its cost structure according to the new project priorities.

In October 2022, Roche and Hookipa entered into a strategic collaboration and licensing agreement to jointly develop HB-700 and a second undisclosed novel arenavirus immunotherapy for KRAS-mutated cancers.

Under the terms of the agreement, Roche will pay Hookipa an upfront payment of $25 million. Hookipa is also eligible to receive development and commercialization milestone payments for HB-700 and other candidate products (totaling approximately $930 million), as well as tiered sales royalties in the high single-digit to double-digit range.

In addition, Roche has the right to expand the initial collaboration by adding an additional candidate product, and Hookipa will receive an additional $15 million payment upon the exercise of the option.

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