- Genentech will acquire Regor's next-generation CDK
inhibitors for an upfront payment of $850
million in cash. Regor is also eligible to receive
additional cash payments contingent on achieving future
development, regulatory and commercial milestones
CAMBRIDGE, Mass., Sept. 30,
2024 /PRNewswire/ -- Regor Pharmaceuticals
(USA) ("Regor") has entered into a
definitive purchase agreement whereby Genentech, a member of the
Roche Group, will acquire a portfolio of next-generation CDK
inhibitors from Regor for the treatment of breast cancer.
Under the terms of the agreement, Regor will receive an
upfront cash payment of $850 million
and is eligible to receive additional cash payments based on the
achievement of certain predetermined development, regulatory and
commercial milestones. Genentech will be responsible for clinical
development, manufacturing and commercialization worldwide. Regor
will continue to manage the two ongoing Phase 1 trials to their
completion: Regor will also advance its other distinct
assets, unrelated to this deal, in oncology, metabolic
diseases and auto-immunity.
"Genentech is well-positioned to bring these novel therapeutics
to their full potential to benefit patients with breast cancer
around the world," said Xiayang Qiu, Ph.D., founder and CEO of
Regor. " We are proud of the strong data we have generated to
date. We look forward to bringing more innovative therapies to
patients around the world."
The proposed transaction is expected to close in the fourth
quarter of 2024. The closing of the proposed transaction is subject
to the satisfaction of customary closing conditions.
BofA Securities, Inc. is acting as the exclusive financial
advisor to Regor on this transaction, and Cohen, Tauber Spievack & Wagner PC and DLA Piper
are its legal advisors.
About Regor Pharmaceuticals (USA)
Regor Pharmaceuticals (USA) is
part of Regor Therapeutics Group, a clinical-stage biotechnology
company developing innovative and clinically differentiated
medicines to address large unmet needs in oncology, metabolism and
auto-immunity. By leveraging the proprietary CARD (Computer
Accelerated Rational Discovery) Platform, Regor Therapeutics Group
has advanced over a dozen in-house discovered assets into various
stages of preclinical and clinical development, validating its
highly efficient ecosystem for accelerated discovery of innovative
therapeutic agents. To learn more about Regor, please visit us
at www.regor.com.
Contacts:
Cece Wenqin Hu
Communications & Corporate Affairs
E: cece.hu@regor.com
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SOURCE Regor Therapeutics Group