Idorsia Ltd announced that it has entered into a research collaboration that provides Roche with an exclusive option right to develop and market first-in-class compounds for a promising new approach in the field of cancer immunotherapy.
Martine Clozel, M.D. and Chief Scientific Officer of Idorsia, commented: "The preclinical data we have generated leads us to believe that our approach can translate into significant therapeutic benefits for patients. By joining forces, we are combining our advanced drug discovery program together with the cancer immunotherapy expertise of Roche. I am looking forward to the collaboration with our partner to leverage our research and bring compounds through clinical development as soon as possible."
About the terms of the agreement
The parties will collaborate on the discovery of products through the formation of a joint committee, chaired by Idorsia.
Roche will pay Idorsia an upfront payment of CHF 15 million and will have the option to exclusively license Idorsia compounds and compounds resulting from the collaboration, for a further payment of 35 million, after a pre-determined period. After the exercise of its option right, Roche would have the exclusive worldwide right to develop and commercialize the Idorsia and collaboration compounds.
Idorsia will be eligible to receive one-time development and regulatory milestones of up to CHF 410 million. Idorsia will also be entitled to one-time milestones based on sales thresholds, as well as tiered royalties on annual net sales of all products resulting from the collaboration.
Idorsia Ltd is reaching out for more - We have more ideas, we see more opportunities and we want to help more patients.In order to achieve this, we will develop Idorsia into Europe's leading biopharmaceutical company, with a strong scientific core.
Headquartered in Switzerland - a biotech-hub of Europe - Idorsia is specialized in the discovery and development of small molecules, to transform the horizon of therapeutic options. Idorsia has a broad portfolio of innovative drugs in the pipeline, an experienced team, a fully-functional research center, and a strong balance sheet - the ideal constellation to bringing R&D efforts to business success.
Idorsia was listed on the SIX Swiss Exchange (ticker symbol: IDIA) in June 2017 and has over 600 highly qualified specialists dedicated to realizing our ambitious targets.
For further information please contact:
Andrew C. Weiss
Senior Vice President, Head of Investor Relations & Corporate Communications
Idorsia Pharmaceuticals Ltd, Hegenheimermattweg 91, CH-4123 Allschwil
+41 58 844 10 10