Early stage deals between pharma and biotech underscore pharma
companies’ increasing reliance on biotech as a source of innovation.
Both Roche (RHHBY.PK) and Lilly (LLY)
have been stung by setbacks in their drug development programs in
recent weeks, and both of them announced new alliances to develop novel
therapeutics.
Roche will partner
with Belgium biotech reMynd to develop novel therapeutics that could
slow down neurodegeneration in Parkinson’s and Alzheimer’s. The initial
focus will be on two of the company’s pre-clinical small molecule
programs. The partners will form joint teams to take the programs
forward after which Roche will be responsible for all clinical
development and worldwide commercialization. reMynd will be eligible for
over half a billion Euros ($637 million) in milestone payments, plus
potential double-digit royalties on sales of any resulting products. The
novelty of the reMynd’s drug candidates lies in the fact that they are
considered disease modifying, unlike currently available drugs that only
treat symptoms of the disease.
To read the full, original article click on this link: Big Pharma Looks to Biotech for Innovation -- Seeking Alpha
Author: Marie Daghlian
