Nerviano – 18 January, 2011 - 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 license agreement with Genentech, a member of the Roche Group (SIX: RO, ROG; OTCQX: RHHBY).
This is the third agreement signed between Genentech and Nerviano. The first agreement announced in January 2008 is a risk sharing collaboration to discover inhibitors of anticancer targets. The second collaboration agreement was announced in October 2008 and is directed to the discovery of antibody drug conjugates.
Under the terms of this license agreement Nerviano grants to Genentech exclusive rights to a chemical series of compounds discovered and owned by Nerviano, that potently inhibit an undisclosed target. Nerviano shall transfer compounds and related know-how and will provide to Genentech assistance required to implement their use. Genentech will have exclusive responsibility to further research, develop and commercialize such compounds.
In consideration of the exclusive license, Genentech shall pay to Nerviano a one-time license-fee and royalty payments for the licensed products on a product-by-product basis. Further details and financial terms were not disclosed. “With this new agreement we are very pleased about the prospect of further expanding our collaboration with Genentech, one of the world’s leading biotech companies and it marks an additional achievement in our strategic alliances strategy”, said Prof. Alberto Sciumè President 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.”