PeptiDream and Genentech Ink $1 Billion Deal for Peptide-RI Drug Conjugates
PeptiDream Inc., a publicly traded biopharmaceutical company headquartered in Kanagawa, Japan, led by President and CEO Patrick C. Reid, has unveiled a pioneering multi-target collaboration and license agreement with the U.S.-based Genentech, a subsidiary of the Roche Group. The focus of this collaboration is on the discovery and development of groundbreaking macrocyclic peptide-radioisotope (peptide-RI) drug conjugates.
This agreement will see PeptiDream harness its cutting-edge Peptide Discovery Platform System (PDPS) technology to identify, enhance, and advance macrocyclic peptide candidates intended for use as peptide-RI drug conjugates, all aimed at specific targets identified by Genentech. PeptiDream will lead the initial stages of preclinical development before passing on the resulting peptide-RI drug conjugate products to Genentech for further development and commercialization. Importantly, PeptiDream will retain exclusive rights for the development and commercialization of these products in Japan.
Under the terms of this groundbreaking agreement, PeptiDream will receive an initial payment of $40 million USD (approximately ¥5.9 billion JPY) from Genentech, with the potential to earn additional payments based on the achievement of specific development, regulatory, and commercial milestones, which could amount to an impressive $1 billion USD (around ¥147.7 billion JPY). Furthermore, PeptiDream stands to receive tiered royalties on net sales of these products outside of Japan, cementing this collaboration as a major milestone in the biopharmaceutical industry.
Patrick C. Reid PhD, President & CEO of PeptiDream said:
“We are extremely excited to announce this new collaboration with Genentech for the discovery and development of peptide-RI drug conjugates. PeptiDream is a global leader in the discovery and development of peptide-RI conjugates, and through our PDRadiopharma, is one of the leading radiopharmaceutical companies in Japan. 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.”
This latest collaboration marks the continuation of a longstanding partnership between the two companies, which initially began with a multi-target collaboration and license agreement in December 2015. It gained momentum when Genentech licensed PeptiDream’s PDPS technology in 2016, and the partnership was further expanded in 2018.
For more information about our company, science and pipeline, please visit www.peptidream.com/en/
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