Convelo Therapeutics and Genentech Announce Exclusive Global Collaboration to Develop First-in-Class Remyelinating Therapies for Neurodegenerative Diseases

VCBeat (WeChat ID: vcbeat) learned from foreign media reports that on July 16, 2019, biopharmaceutical company Convelo Therapeutics entered into an exclusive global collaboration with Genentech, a member of the Swiss Roche Group, to accelerate the discovery and development of novel myelin regeneration therapies for patients with neurological disorders such as multiple sclerosis (MS).

Convelo Therapeutics is a biotechnology company researching novel drugs that protect the myelin sheath surrounding regenerating nerve cells. This collaboration builds upon the myelin-targeting strategies and proprietary screening platforms developed by Convelo’s founders, Drs. Paul Tesar and Drew Adams. Convelo Therapeutics and Genentech will jointly explore novel myelin regeneration therapies for the treatment of multiple sclerosis and other myelin-related disorders. As part of the collaboration, Genentech retains an exclusive option to acquire all outstanding shares of Convelo through additional undisclosed payments.

“Convelo CEO Dr. Derrick Rossi stated, ‘We are delighted to partner with Genentech to discover and develop best-in-class therapies for patients suffering from diseases caused by myelin loss, such as multiple sclerosis. This collaboration combines the strengths of our two organizations and has the potential to bring new medicines to patients.’”

Convelo Chief Business Officer Tracy Saxton added, “This collaboration represents a significant milestone for our company’s development, enabling us to better execute our corporate strategic plan.”

“Although treatment for multiple sclerosis has made progress, many patients continue to suffer from the disease,” said James Sabry, MD, Global Head of Roche Pharmaceuticals. “New drugs capable of regenerating the myelin sheath around nerve cells can help address this significant unmet need. We look forward to collaborating with Convelo, hoping to provide new options for patients with multiple sclerosis and other neurological disorders,” said Dr. Sabry.

Multiple sclerosis is a severe, progressive neurological disorder affecting nearly 1 million people in the United States and millions more worldwide. The disease results from an abnormal immune response that damages the myelin sheath in the central nervous system, leading to disability in patients. Currently approved therapies primarily aim to prevent further myelin damage by modulating the immune system; however, there are no available treatments that address the clinical need for myelin regeneration.

Convelo Therapeutics has discovered a novel drug capable of unlocking the regenerative potential of the central nervous system. As a pioneer in researching myelin, the protective sheath surrounding regenerating nerve cells, Convelo focuses on conditions such as multiple sclerosis, pediatric leukodystrophies, traumatic injuries, and age-related diseases including dementia. The company has identified key biological targets and novel chemical entities that modulate these enzymes, offering meaningful solutions for patients and their families.

Convelo Therapeutics was founded in 2016 by Dr. Paul Tesar and Dr. Drew Adams, professors at Case Western Reserve University School of Medicine. The company is dedicated to developing drug therapies that promote the regeneration of myelin sheaths around nerve cells and restore function in patients with neurological disorders. They are joined by Steven Landau, M.D., a veteran biotechnology executive. In 2018, Convelo Therapeutics announced the completion of an $7.8 million financing round led by Convelo Holdings, LLC.

Genentech is a biotechnology company founded on January 1, 1976, dedicated to the discovery, development, manufacturing, and commercialization of medicines for patients. Headquartered in South San Francisco, California, Genentech employs more than 10,000 people. The company has launched multiple products in the market and maintains a robust development pipeline. In 2009, Genentech became a member of the Roche Group.