OMass Therapeutics enters deal with Genentech for IBD candidate

Oxford, UK-based biotech OMass Therapeutics today announced it has entered into an exclusive collaboration and license agreement with Genentech, the US subsidiary of Swiss pharma giant Roche (ROG: SIX), for the rights to develop and commercialize OMass’ pre-clinical oral small molecule program for inflammatory bowel disease.

OMass is identifying medicines against highly validated target ecosystems such as membrane proteins or intracellular complexes,

Under the heavily back-loaded accord, OMass will receive an upfront payment of $20 million, plus additional potential pre-clinical, development, commercial and net sales milestone payments of more than $400 million. OMass is also eligible for tiered royalties on net sales. Under the collaboration, OMass will lead the initial pre-clinical development of the program until candidate selection. Genentech will be responsible for clinical development, regulatory activities, manufacturing and commercialization.