Almac, Genentech Partner
Almac Discovery, a biopharmaceutical company that is part of the the contract development and manufacturing organization, the Almac Group, has formed a research and licensing agreement with Genentech, a member of the Roche Group, to discover and develop small- molecule inhibitors of a ubiquitin specific protease target.
Under the agreement, Almac Discovery will receive an upfront payment of $14.5 million. Almac Discovery will be eligible to receive up to $349 million in payments based on achievement of certain predetermined milestones as well as escalating tiered royalties on potential commercial sales of multiple products to the target by Genentech.
Almac Discovery's small-molecule inhibitors will be the starting point for a two-year joint research program funded by Genentech. Genentech will be responsible for all preclinical and clinical development and commercialization of products arising from the collaboration.
Almac Discovery, an independent member of the Almac Group, is a research-driven oncology company that is dedicated to the discovery and development of treatment sof cancer. Almac Discovery focuses on the discovery to preclinical stage seeking to partner programs at an early time point with the pharmaceutical industry. the Almac Group provides a full range of contract services from biomarker and discovery services to active pharmaceutical ingredient (API) development and manufacturing, to pharmaceutical development, clinical trial material supply, and commercial-scale drug substance and drug product manufacturing.