Genentech will acquire Regor's next-generation CDK inhibitors for an upfront payment of $850 million in cash. Regor is also eligible to receive additional cash payments contingent on achieving future development, regulatory and commercial milestones CAMBRIDGE, Mass., Sept. 30, 2024 /PRNewswire/ -- Regor Pharmaceuticals (USA) ("Regor") has entered into a definitive purchase agreement whereby Genentech, a member of the Roche Group, will acquire a portfolio of next-generation CDK inhibitors from Regor for the treatment of breast cancer.
Under the terms of the agreement, Regor will receive an upfront cash payment of $850 million and is eligible to receive additional cash payments based on the achievement of certain predetermined development, regulatory and commercial milestones. Genentech will be responsible for clinical development, manufacturing and commercialization worldwide. Regor will continue to manage the two ongoing Phase 1 trials to their completion: Regor will also advance its other distinct assets, unrelated to this deal, in oncology, metabolic diseases and auto-immunity.
"Genentech is well-positioned to bring these novel therapeutics to their full potential to benefit patients with breast cancer around the world," said Xiayang Qiu, Ph.D., founder and CEO of Regor. " We are proud of the strong data we have generated to date. We look forward to bringing more innovative therapies to patients around the world."
The proposed transaction is expected to close in the fourth quarter of 2024. The closing of the proposed transaction is subject to the satisfaction of customary closing conditions.
BofA Securities, Inc. is acting as the exclusive financial advisor to Regor on this transaction, and Cohen, Tauber Spievack & Wagner PC and DLA Piper are its legal advisors.
About Regor Pharmaceuticals (USA)
Regor Pharmaceuticals (USA) is part of Regor Therapeutics Group, a clinical-stage biotechnology company developing innovative and clinically differentiated medicines to address large unmet needs in oncology, metabolism and auto-immunity. By leveraging the proprietary CARD (Computer Accelerated Rational Discovery) Platform, Regor Therapeutics Group has advanced over a dozen in-house discovered assets into various stages of preclinical and clinical development, validating its highly efficient ecosystem for accelerated discovery of innovative therapeutic agents. To learn more about Regor, please visit us at www.regor.com.
Contacts:
Cece Wenqin Hu
Communications & Corporate Affairs
E: cece.hu@regor.com
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