Genentech, Inc. & Inotek Pharma Corp. Agreed on a Global Strategic Alliance for the Discovery, Development and Commercialization of PARP Cancer Inhibitors
Genentech, Inc. (NYSE: DNA) and Inotek Pharmaceuticals Corporation have entered into an exclusive global collaboration to discover, develop, manufacture and commercialize inhibitors of poly (ADP-ribose) polymerase (PARP) for the potential treatment of cancer.
PARP, a nuclear enzyme within cells, directs the repair of damaged DNA via the activation and recruitment of DNA repair enzymes and has applications for the treatment of oncology and cardiovascular conditions.
The terms of agreement includes:
- Genentech will make an upfront payment of $20 million to Inotek, with the potential for up to $405 million in additional milestone payments based upon the successful completion of various clinical development and regulatory events across multiple cancer indications in multiple areas of the world.
- Genentech will pay Inotek royalties based on the net amount of any sales of Inotek's lead PARP Inhibitor, INO-1001, or other next-generation PARP inhibitors in the field of cancer.
- Genentech will provide funding to utilize Inotek's small molecule chemistry expertise as part of a multi-year collaborative research program and will pay for all future clinical development costs of INO-1001 and subsequent PARP inhibitors in cancer.
- Genentech retains the option to develop and commercialize Inotek's PARP inhibitors to prevent cell death and complications associated with various acute cardiovascular conditions and procedures. This option is associated with an additional fee as well as development and other milestone payments.
Find more details of the agreement at the Genentech, Inc.'s press release.
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