Scenic Biotech Enters Into Genetic Modifier Collaboration With Genentech
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- Published on Monday, 21 September 2020 10:58
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- Multi-year strategic collaboration in target discovery and therapeutic development based on Scenic Biotech’s disease modifying approach
- Utilises Scenic’s unique Cell-Seq platform and its proprietary data warehouse of genetic modifiers
- Scenic Biotech will receive an undisclosed upfront payment and is eligible to receive milestone payments and royalties across multiple products meeting certain pre-defined conditions
AMSTERDAM, The Netherlands I September 21, 2020 I Scenic Biotech BV (“Scenic”), a pioneer in the discovery of genetic modifiers to enable the development of disease modifying therapeutics for rare genetic disorders and other devastating illnesses, today announced that it has entered into a multi-year strategic collaboration with Genentech, a member of the Roche Group, to discover, develop and commercialize novel therapeutics that target genetic modifiers.
Genetic modifiers are genes that counteract the effect of a disease-causing gene. They may explain why some people with genetic mutations linked to severe disease end up having only mild or no symptoms. Also known as disease suppressors, genetic modifiers therefore positively influence the severity of disease and act as a ‘natural form of protection’. Their discovery is leading to a completely new class of drug targets.
Under the terms of the agreement, Scenic will utilize its Cell-Seq platform and its data warehouse of genetic modifiers to identify drug targets in multiple therapeutic areas. The collaboration enables Genentech to select multiple targets for further development with an option to extend the collaboration. Scenic will receive an undisclosed upfront payment and is eligible to receive additional target selection fees for drug targets taken forward by Genentech. In addition, Scenic is eligible for success-based payments for each target based on achievement of certain predetermined milestones, as well as royalties on sales of certain products resulting from the collaboration. Total deal value could exceed US $375M.
Scenic has built an extensive proprietary data warehouse of genetic modifiers and its Cell-Seq platform enables the development of potential disease modifying therapeutics for devastating diseases with an in-house focus on inherited rare diseases and immuno-oncology/inflammation.
The Company was founded in 2017 as a spin-out of the Netherlands Cancer Institute, and Oxford University and recently appointed Oscar Izeboud, PhD as its Chief Executive Officer.
Dr Sebastian Nijman, Co-founder and CSO of Scenic Biotech said: “Genentech is the pioneer in innovative biotech and has world leading research and development capabilities. Scenic is a science-driven company and having Genentech as our first major industry partner is a great validation of our technology and by working together it will extend the utility of our platform beyond our current therapeutic areas of interest. The collaboration also brings significant strategic value for Scenic as it enables us to realise the potential of our genetic modifier expertise alongside independently advancing our own programs towards clinical development.”
About Scenic Biotech
Scenic Biotech is focused on identifying genetic modifiers, a completely new class of disease targets, for drug intervention. Also known as disease suppressors, genetic modifiers are genes that act to suppress or completely block the effect of a disease-causing mutated gene.
As a pioneer in the field, Scenic Biotech is building the largest proprietary data warehouse of genetic modifiers and has already identified a number of novel genetic modifiers for over a dozen inherited diseases. This approach is enabling the development of disease modifying therapeutics for devastating diseases including inherited rare diseases and cancer.
Scenic Biotech is headquartered in Amsterdam, the Netherlands. The Company was founded in 2017 as a spin-out of the Netherlands Cancer Institute, and Oxford University, backed by a Dutch-UK syndicate of Venture Capital investors that include BioGeneration Ventures, Inkef Capital, and Oxford Sciences Innovation.
Scenic Biotech refers to all companies within the Scenic group, comprising Scenic Holding BV and its two fully owned subsidiary companies: Scenic Immunology BV and Scenic Biotech BV.
For further information please visit: www.scenicbiotech.com
SOURCE: Scenic Biotech