Roche signs up for $774M development pact

Roche has forged a $774 million deal to license an early stage cancer drug from Belgium's ThromboGenics and Sweden's BioInvent. In the deal, ThromboGenics gets a whopping $77.4 million upfront payment from Roche, with close to $700 million in milestones that will be split 60/40 between ThromboGenics and BioInvent.

Roche is clearly impressed with the potential of TB-403, an antibody which works by cutting off blood flow to tumors. The therapy has already been tested in one early-stage study and Roche will pick up responsibility for financing further research. Roche gets worldwide marketing rights to the antibody with the two biotechs retaining co-marketing rights in Belgium, the Netherlands, Luxembourg and the Baltic and Nordic Regions.

This deal represents a significant milestone in ThromboGenics' development as a company," said ThromboGenics CEO Désiré Collen. "It also reflects TB-403's potential as a promising treatment for cancer, and is a testament to the hard work and high quality science on which ThromboGenics' business is based."

- read the press release
- check out the AP report