James Sabry, Roche global head of pharma partnering
Roche, Genentech plunk down $60M upfront to partner with Chinese pharma on PROTAC-based prostate cancer drug
Roche and Genentech are always on the hunt for deals, and on Thursday they found their newest partner.
The pair will team up with the Chinese pharma company Jemincare to push forward a new program for prostate cancer, the companies announced. Roche is ponying up $60 million upfront to get its hands on the candidate and promising up to $590 million in biobucks, plus royalties, down the line.
In return, Genentech will get a worldwide license to develop the program, known as JMKX002992, and bring it to market.
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