Roche (SIX: RO, ROG; OTCQX: RHHBY) announced today that it has agreed to acquire Dutalys GmbH, a privately held biotechnology company based in Vienna, Austria. Dutalys specializes in the discovery and development of fully human, bi-specific antibodies based on their proprietary DutaMab technology. The bi-specific antibodies developed with this platform are designed to provide novel, best-in-class molecules for several therapeutic areas. This deal further highlights Roche's leadership in the development of therapeutic antibodies.
"The platform developed by Dutalys is a breakthrough technology, and we are excited about integrating it within Roche," said John C. Reed, Head of Pharma Research and Early Development. "It strengthens our R&D capabilities in delivering bi-specific antibodies, which have the potential to create transformational new medicines."
"We are delighted to have found a partner who has the capability to fully leverage our technology for maximum patient benefit." said Roland Beckmann, co-founder and CSO of Dutalys. "DutaMabs are suitable for the treatment of numerous disease mechanisms and therapeutic targets, and we are very much looking forward to developing diverse novel therapeutics within the Roche R&D team."
Under the terms of the agreement, Roche will make an upfront cash payment of USD 133.75 million to shareholders and make additional contingent payments of up to USD 355 million based on the achievement of certain predetermined milestones.
About the DutaMab Platform
A conventional bi-specific monoclonal antibody is a biotechnologically engineered artificial protein that is composed of fragments of two different monoclonal antibodies and consequently can bind to two different antigens. The DutaMab technology platform differs by enabling the development of fully human bi-specific antibodies where each arm of the antibody shows high affinity and simultaneous binding against both targets, excellent stability, and good manufacturing properties. This enables the treatment of disease mechanisms that could not be addressed with conventional bi-specific antibodies.
About Dutalys
Dutalys is a privately owned antibody technology company based in Vienna, Austria. Dutalys was founded in April 2010 and supported by Seed financing from aws (Austria Wirtschaftsservice / ERP-Funds), by research grants from FFG (the Austrian Research Promotion Agency) and ZIT (the Technology Agency of the City of Vienna), and by funding from INiTS (the Austrian Academic Business Incubator). For more information please visit www.dutalys.com
About Roche
Headquartered in Basel, Switzerland, Roche is a leader in research-focused healthcare with combined strengths in pharmaceuticals and diagnostics. Roche is the world's largest biotech company, with truly differentiated medicines in oncology, immunology, infectious diseases, ophthalmology and neuroscience. Roche is also the world leader in in vitro diagnostics and tissue-based cancer diagnostics, and a frontrunner in diabetes management. Roche's personalised healthcare strategy aims at providing medicines and diagnostics that enable tangible improvements in the health, quality of life and survival of patients. Founded in 1896, Roche has been making important contributions to global health for more than a century. Twenty-four medicines developed by Roche are included in the World Health Organisation Model Lists of Essential Medicines, among them life-saving antibiotics, antimalarials and chemotherapy.
In 2013 the Roche Group employed over 85,000 people worldwide, invested 8.7 billion Swiss francs in R&D and posted sales of 46.8 billion Swiss francs. Genentech, in the United States, is a wholly owned member of the Roche Group. Roche is the majority shareholder in Chugai Pharmaceutical, Japan. For more information, please visit www.roche.com.