Good Therapeutics sells PD-1 IL-2 program to Roche for $250M and will march on with a similar name, but in Latin
There’s Just, and there’s Good.
The first was sold in summer 2019. And the PD-1 IL-2 portion of the latter is now entering the fold of Roche.
The two biotechs aren’t related, but Good Therapeutics founder and CEO John Mulligan “liked the idea of having Good and Just in Seattle,” calling his startup’s moniker a “riff” on the Evotec-acquired Just Biotherapeutics.
And now Mulligan, after several years of dialogue with Roche and about 12 months of “serious discussions” around M&A, is selling Good Therapeutics’ IL-2 program to the Swiss Big Pharma for $250 million in upfront cash deal. More capital could flow Good’s way in the form of development, regulatory and commercial biobucks. The deal is slated to close this quarter, pending merger clearances.
Unlock this article instantly by becoming a free subscriber.
You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.