Proteostasis in Licensing Pact With Roche's Genentech

   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)

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