Wednesday, January 24, 2024
GenEdit, Inc., a developer of genetic medicines using its NanoGalaxy® platform for precise tissue delivery, has recently entered into a multiyear collaboration and license agreement with Genentech, a member of the Roche Group. The collaboration aims to leverage GenEdit's NanoGalaxy platform for the discovery and development of innovative nanoparticles to deliver Genentech’s nucleic acid-based medicines for treating autoimmune diseases.
Dr. Kunwoo Lee, CEO of GenEdit, expressed enthusiasm about the collaboration, stating, "We are excited to work with Genentech in developing novel therapeutics for autoimmune disease. Genentech's leadership in advancing breakthrough science aligns well with the potential of GenEdit’s NanoGalaxy platform, specifically in delivering nucleic acid-based medicines through our hydrophilic nanoparticle technology."
James Sabry, Global Head of Roche Pharma Partnering, emphasized the significance of external innovation in advancing transformative medicines for autoimmune diseases. He highlighted the potential of GenEdit's polymer nanoparticle library and platform to reshape treatment paradigms for challenging conditions.
According to the terms of the agreement, GenEdit and Genentech will collaborate to discover and develop hydrophilic nanoparticles (HNPs) for creating nucleic acid-based medicines targeting autoimmune indications. Genentech will lead preclinical, clinical, regulatory development, and commercialization efforts for products resulting from the use of GenEdit’s nanoparticles.
As part of the collaboration, GenEdit will receive an upfront payment of $15 million and stands to receive up to $629 million in payments tied to near-term, preclinical, and clinical development milestones, as well as commercial and net sales milestones. Additionally, GenEdit will be entitled to tiered royalties based on global net sales of the products developed through this collaboration.
Source: businesswire.com
