Nerviano, 21 October, 2008 - Nerviano Medical Sciences (NMS), the largest pharmaceutical R&D facility in Italy and one of the leading oncology-focused, integrated discovery and development companies in Europe, today announced a new multi-year agreement with Genentech, Inc.
This new research agreement is the second collaboration agreement signed between Genentech and NMS in less than twelve months.
The two Companies will collaborate in the discovery of antibody drug conjugates for the development of potential anticancer agents.
Genentech, which is a leading oncology company in the United States, will have the exclusive license to fully develop and commercialize licensed products that contain such antibody drug conjugates.
During the research program, NMS will be primarily responsible for synthesizing and manufacturing drug reagents, while Genentech will generate antibody drug conjugates with such drug reagents and further evaluate their potential therapeutic utility.
Terms of the multi-year collaboration include an initial one-time-license-fee, milestones and royalties for licensed products as well as milestones on a target-by-target basis. Further details and financial terms were not disclosed.
"This new agreement marks an additional achievement in our strategic alliances strategy and we are very excited about the prospect of expanding our collaboration with Genentech one of the world's leading biotech companies", said Umberto Rosa, President of Nerviano Medical Sciences. "We believe that by working together and applying our complementary world class research capabilities in biologics and in small molecules, we may develop innovative targeted products for patients suffering from cancer".
"With this new collaboration we are very pleased to enhance our collaboration with Genentech and to extend it in the field of antibody drug conjugates, an area where biologics and small molecules meet to generate very potent targeted therapies", added Giampiero Duglio, CEO of Nerviano Medical Sciences. "I believe that Nerviano's expertise in the discovery of potent small molecules may contribute to innovative and valuable products for the oncology market."