PeptiDream Inc., a publicly-traded biopharmaceutical company headquartered in Kanagawa, Japan, under the leadership of President and CEO Patrick C. Reid, announced today a groundbreaking multi-target collaboration and license agreement with Genentech, a U.S.-based subsidiary of the Roche Group. The focus of this collaboration centers on the exploration and development of innovative macrocyclic peptide-radioisotope (peptide-RI) drug conjugates.
Within the framework of this agreement, PeptiDream will leverage its proprietary Peptide Discovery Platform System (PDPS) technology to identify, enhance, and advance macrocyclic peptide candidates, tailored for use as peptide-RI drug conjugates targeting Genentech's areas of interest. PeptiDream will oversee the initial stages of preclinical development before transferring the resultant peptide-RI drug conjugate products to Genentech for further refinement and eventual commercialization. Importantly, PeptiDream retains exclusive rights to develop and market these peptide-RI drug conjugate products within Japan.
This new collaboration and licensing agreement builds upon the extensive history of cooperation between the two companies. It all began with a multi-target collaboration and licensing agreement in December 2015, followed by Genentech's adoption of PeptiDream's PDPS technology in 2016, and further expansion of their collaborative efforts in 2018.
As per the terms outlined in the agreement, PeptiDream will receive an initial payment of $40 million USD (equivalent to ¥5.9 billion JPY) from Genentech. Additionally, PeptiDream stands to benefit from milestone payments linked to specific development, regulatory, and commercial achievements, potentially reaching an impressive sum of up to $1 billion USD (approximately ¥147.7 billion JPY). Furthermore, PeptiDream is entitled to tiered royalties based on net sales of these collaborative products, excluding sales within Japan.
“We are extremely excited to announce this new collaboration with Genentech for the discovery and development of peptide-RI drug conjugates. PeptiDream is a global leader in the discovery and development of peptide-RI conjugates, and through our PDRadiopharma, is one of the leading radiopharmaceutical companies in Japan. Combining this expertise with Genentech’s powerful clinical development and commercialization capabilities, we hope to bring innovative first-in-class peptide radiopharmaceuticals to patients worldwide,” concluded Patrick C. Reid PhD, President and CEO of PeptiDream.