Nikolai Kley, Orionis Biosciences CEO

Genen­tech gets gluey, pay­ing $47M up­front to Ori­o­n­is for de­grad­er dis­cov­ery deal

In its sec­ond deal an­nounced Wednes­day morn­ing, Roche’s Genen­tech is sign­ing up with Ori­o­n­is Bio­sciences for a mol­e­c­u­lar glue part­ner­ship in can­cer and neu­rode­gen­er­a­tion.

Genen­tech will pay Ori­o­n­is $47 mil­lion up­front, and it’s promised over $2 bil­lion in po­ten­tial down­stream mile­stones. Ori­o­n­is, a biotech com­pa­ny based out of Boston and Ghent, Bel­gium, plans to dis­cov­er and op­ti­mize small mol­e­cule mol­e­c­u­lar glues for cer­tain undis­closed tar­gets for Genen­tech, which will then take over pre­clin­i­cal and clin­i­cal de­vel­op­ment of the drug can­di­dates.

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