Roche and PeptiDream Forge $1B+ Collaboration to Develop Peptide-Radioisotope Conjugates

On September 20, PeptiDream announced a new multi-target collaboration and licensing agreement with Genentech, a subsidiary of Roche, aimed at discovering and developing novel macrocyclic peptide-radiosotope (peptide-RI) conjugate drugs.

According to the agreement, PeptiDream will use its proprietary Peptide Discovery Platform System (PDPS) technology to discover, optimize, and develop macrocyclic peptide candidates for the development of peptide-RI conjugate drugs targeting points of interest to Genentech. PeptiDream will lead the early preclinical development and then transition the resulting peptide-RI conjugate products to Genentech for further development and commercialization. PeptiDream will retain the rights to develop and commercialize such peptide-RI conjugate products in Japan.

PeptiDream's PDPS Peptide Discovery Platform (Source: PeptiDream Official Website)

Under the terms of the agreement, PeptiDream will receive an upfront payment of $40 million (5.9 billion yen, at an exchange rate of 1 USD = 147.7 yen) from Genentech and is eligible to receive potential milestone payments of up to $1 billion (147.7 billion yen) upon the achievement of specific development, regulatory, and commercial milestones. Additionally, PeptiDream is entitled to receive tiered royalties on net sales of any such products generated through the collaboration (excluding Japan).

The new collaboration and licensing agreement builds on the long-standing partnership between the two companies, which began with a multi-target collaboration and licensing agreement signed in December 2015. This was followed by Genentech obtaining a license for PeptiDream's PDPS technology in 2016, and the collaboration was further expanded in 2018.

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