PeptiDream Inc., a public Kanagawa, Japan-based biopharmaceutical company announced a new multi-target collaboration and license agreement with U.S.-based Genentech, a member of the Roche Group, focused on the discovery and development of novel macrocyclic peptide-radioisotope (“peptide-RI”) drug conjugates.
Under the agreement, PeptiDream will use its proprietary Peptide Discovery Platform System (“PDPS”) technology to discover, optimize, and develop macrocyclic peptide candidates for use as peptide-RI drug conjugates against targets of interest to Genentech. PeptiDream will lead early preclinical development before transitioning peptide-RI drug conjugate products arising from the collaboration to Genentech for further development and commercialization. PeptiDream will retain the right to develop and commercialize such peptide-RI drug conjugate products in Japan.
The new collaboration and license agreement builds upon the long collaborative relationship between the companies, which started with a multi-target collaboration and license agreement in December 2015, followed by Genentech licensing PeptiDream’s PDPS technology in 2016, and expansion of the companies’ collaboration in 2018.
Under the terms of the agreement, PeptiDream will receive an upfront payment of $40 million USD (¥5.9 billion JPY)(1 USD = 147.7 JPY) from Genentech and be eligible for payments based on the achievement of specified development, regulatory, and commercial milestones potentially up to $1 billion USD (¥147.7 billion JPY). In addition, PeptiDream is eligible to receive tiered royalties on net sales (ex-Japan) of any such products arising from the collaboration.
“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.” said Patrick C. Reid PhD, President & CEO of PeptiDream.