Arrakis Receives $190 Million Upfront Cash Payment with Potential for Multi-Billion Dollar Future Payments
WALTHAM, MA, USA I April 8, 2020 I Arrakis Therapeutics, a biopharmaceutical company pioneering the discovery of a new class of small molecule medicines that directly target RNA, today announced a strategic collaboration and license agreement with Roche (SIX: RO, ROG; OTCQX: RHHBY) for the discovery of RNA-targeted small molecule (rSM) drugs against a broad set of targets across all of Roche’s research and development areas. Under the terms of the agreement, Arrakis will lead discovery and research activities for each target to a defined point, at which time Roche will have the right to exclusively pursue further preclinical and clinical development. Arrakis will receive an upfront payment of $190 million in cash and may also receive preclinical, clinical, commercial and sales milestone payments and royalties for any resulting products. The aggregate potential value of future payments to Arrakis exceeds several billion dollars, subject to regulatory approvals and other conditions being met.
“We are excited to partner with Roche’s strong research and development teams. Together, we share a common vision of accessing new drug targets at the RNA level and thereby discovering novel medicines to treat diseases with high unmet medical need. The collaboration will increase the number of new treatments for patients arising from our proprietary rSM discovery platform,” said Michael Gilman, Ph.D., Chief Executive Officer of Arrakis. “In addition to the Roche collaboration, we are further building our capabilities and advancing our wholly-owned rSM programs for diseases unaddressed by today’s medicines.”
“Through our pioneering work in RNA biology, we have built a platform for creating and adapting drug discovery tools that allow us to predict and validate the structure of RNA targets, locate druggable pockets, identify drug-like hits, and conduct medicinal chemistry programs to discover a new class of RNA-targeted medicines optimized for potency, selectivity, and safety. This agreement with Roche underscores the value inherent in our rSM platform and will enable us to continue to make leading discoveries and further scientific contributions in the field,” said Jennifer C. Petter, Ph.D., Founder and Chief Scientific Officer of Arrakis.
Arrakis is taking a broad approach, targeting multiple mechanisms across the lifecycle of RNA to establish a new paradigm for small-molecule drug discovery. The company’s discovery platform integrates leading-edge RNA bioinformatic and structural tools, curated chemical libraries, RNA-specific assays, and RNA-guided medicinal chemistry. In addition to collaborating with partners, Arrakis is developing an internal pipeline of rSMs to treat a range of serious illnesses including cancers and other diseases where strongly validated targets and drivers of disease have been identified but have proven challenging with other drug approaches and modalities.
About Arrakis Therapeutics
Arrakis Therapeutics is a biopharmaceutical company pioneering the discovery of a new class of medicines that directly target RNA. Arrakis is building a proprietary pipeline of RNA-targeted small molecule (rSM) medicines focused on cancer and genetically validated targets in other disease areas. The company brings together scientific leaders in RNA structure, chemistry and biology, along with a highly experienced management team and the backing of leading life sciences investors. The company is located in Waltham, Massachusetts. For more information, please visit www.arrakistx.com and engage with us on Twitter @ArrakisTx or on LinkedIn.
SOURCE: Arrakis Therapeutics
Post Views: 150
Arrakis Receives $190 Million Upfront Cash Payment with Potential for Multi-Billion Dollar Future Payments
WALTHAM, MA, USA I April 8, 2020 I Arrakis Therapeutics, a biopharmaceutical company pioneering the discovery of a new class of small molecule medicines that directly target RNA, today announced a strategic collaboration and license agreement with Roche (SIX: RO, ROG; OTCQX: RHHBY) for the discovery of RNA-targeted small molecule (rSM) drugs against a broad set of targets across all of Roche’s research and development areas. Under the terms of the agreement, Arrakis will lead discovery and research activities for each target to a defined point, at which time Roche will have the right to exclusively pursue further preclinical and clinical development. Arrakis will receive an upfront payment of $190 million in cash and may also receive preclinical, clinical, commercial and sales milestone payments and royalties for any resulting products. The aggregate potential value of future payments to Arrakis exceeds several billion dollars, subject to regulatory approvals and other conditions being met.
“We are excited to partner with Roche’s strong research and development teams. Together, we share a common vision of accessing new drug targets at the RNA level and thereby discovering novel medicines to treat diseases with high unmet medical need. The collaboration will increase the number of new treatments for patients arising from our proprietary rSM discovery platform,” said Michael Gilman, Ph.D., Chief Executive Officer of Arrakis. “In addition to the Roche collaboration, we are further building our capabilities and advancing our wholly-owned rSM programs for diseases unaddressed by today’s medicines.”
“Through our pioneering work in RNA biology, we have built a platform for creating and adapting drug discovery tools that allow us to predict and validate the structure of RNA targets, locate druggable pockets, identify drug-like hits, and conduct medicinal chemistry programs to discover a new class of RNA-targeted medicines optimized for potency, selectivity, and safety. This agreement with Roche underscores the value inherent in our rSM platform and will enable us to continue to make leading discoveries and further scientific contributions in the field,” said Jennifer C. Petter, Ph.D., Founder and Chief Scientific Officer of Arrakis.
Arrakis is taking a broad approach, targeting multiple mechanisms across the lifecycle of RNA to establish a new paradigm for small-molecule drug discovery. The company’s discovery platform integrates leading-edge RNA bioinformatic and structural tools, curated chemical libraries, RNA-specific assays, and RNA-guided medicinal chemistry. In addition to collaborating with partners, Arrakis is developing an internal pipeline of rSMs to treat a range of serious illnesses including cancers and other diseases where strongly validated targets and drivers of disease have been identified but have proven challenging with other drug approaches and modalities.
About Arrakis Therapeutics
Arrakis Therapeutics is a biopharmaceutical company pioneering the discovery of a new class of medicines that directly target RNA. Arrakis is building a proprietary pipeline of RNA-targeted small molecule (rSM) medicines focused on cancer and genetically validated targets in other disease areas. The company brings together scientific leaders in RNA structure, chemistry and biology, along with a highly experienced management team and the backing of leading life sciences investors. The company is located in Waltham, Massachusetts. For more information, please visit www.arrakistx.com and engage with us on Twitter @ArrakisTx or on LinkedIn.
SOURCE: Arrakis Therapeutics
Post Views: 150
