Tekmira jumps 30% on Roche accord
Shares in Canadian RNAi specialist Tekmira rose as much as 30% on May 11, after the firm signed a deal to advance two of Swiss drug major Roche's product candidates into human clinical testing using its stable nucleic acid-lipid particle delivery technology.
Roche will pay Tekmira up to $18.4 million to support the advancement of the product candidates to the filing of Investigational New Drug applications. Tekmira is also eligible to receive up to $32.0 million in milestones plus royalties on sales as the two products based on Roche's access to its partner's intellectual property under previously-announced agreements.
Louis Renzetti, head of RNA Therapeutics at Roche, said: "we are enthusiastic about the potential of RNAi therapeutics for patients with hard-to-treat diseases. We believe Tekmira's SNALP is the leading lipid nanoparticle delivery technology."
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