Proteostasis in Licensing Pact With Roche's Genentech
December 17 2018 - 7:58AM
Dow Jones News
By Colin Kellaher
Proteostasis Therapeutics Inc. (PTI) Monday said it agreed to
license rights to potential therapeutic small molecule modulators
of an undisclosed target within the proteostasis network to Roche
Holdings AG's (ROG.EB) Genentech unit.
The Boston clinical-stage biopharmaceutical company said it
eligible to receive more than $100 million in up-front and
milestone payments, along with tiered royalties on sales of
medicines resulting from the deal.
Shares of Proteostasis, which closed Friday at $4.81, rose 12.3%
in premarket trading Monday.
The specific therapeutic target and disease area covered by the
agreement weren't disclosed, but Proteostasis said it doesn't
include cystic fibrosis transmembrane conductance regulator
modulators and is unrelated to the company's work in cystic
fibrosis.
The company said Genentech is responsible for all further
research and development expenses related to the program.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
December 17, 2018 07:43 ET (12:43 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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