Roche agreed to acquire Adheron Therapeutics, giving the Swiss drugmaker access to the latter's technology for the targeted disruption of Cadherin-11 in order to develop potential treatments for several inflammatory and autoimmune diseases, including rheumatoid arthritis and fibrotic diseases, Adheron announced Friday. The deal, which is valued at up to $580 million, is expected to close shortly.
Adheron CEO Hari Kumar said the transaction "is an important step towards the development of breakthrough medicines in the area of inflammation and fibrosis." Adheron noted that its experimental humanised monoclonal antibody targeting Cadherin-11, SDP051, has completed Phase I testing.
Under the agreement, Adheron will receive an upfront payment of $105 million in cash, plus additional payments of up to $ 475 million based on the achievement of certain milestones.
To read more Top Story articles, click here.