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Under a new pact, Genentech and PeptiDream will collaborate to discover and develop novel peptide-radioisotope drug conjugates.
PeptiDream, a public Kanagawa, Japan-based biopharmaceutical company, has entered into a new multi-target collaboration and license agreement with Genentech, a member of the Roche Group, in which the companies will work to discover and develop novel macrocyclic peptide-radioisotope (peptide-RI) drug conjugates.
Under the agreement, PeptiDream will utilize its proprietary Peptide Discovery Platform System (PDPS) technology to discover, optimize, and develop macrocyclic peptide candidates. The candidates will be used as peptide-RI drug conjugates against targets of interest to Genentech. PeptiDream will lead early preclinical development, and Genentech will take over further development and commercialization of any peptide-RI drug conjugate products that result from the collaboration. However, PeptiDream will retain the right to develop and commercialize such peptide-RI drug conjugate products in Japan, according to a Sept. 20, 2023 company press release.
According to the transaction terms, PeptiDream will receive an upfront payment of $40 million from Genentech. PeptiDream will be eligible for potentially up to $1 billion in payments based on certain development, regulatory, and commercial milestones. PeptiDream is also eligible to receive tiered royalties on net sales (ex-Japan) of products arising from the collaboration.
This new collaboration and license agreement follows a long-term partnership between the companies that started out as a multi-target collaboration and license agreement in December 2015, after which Genentech licensed PeptiDream’s PDPS technology in 2016. The companies initially expanded that original collaboration in 2018.
“We are extremely excited to announce this new collaboration with Genentech for the discovery and development of peptide-RI drug conjugates. Combining this expertise with Genentech’s powerful clinical development and commercialization capabilities, we hope to bring innovative first-in-class peptide radiopharmaceuticals to patients worldwide,” said Patrick C. Reid, president and CEO, PeptiDream, in the press release.