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Refocusing Chiasma yields rich Roche deal for oral somatostatin analog
Delivering on the upside
Monday, February 18, 2013
In 2008 the new CEO of Chiasma
Inc. refocused the drug delivery company on product development with an
eye to capturing more of the upside from the investment in its formulation
technology. On Monday this week, the biotech was to announce its first big
deal, partnering with Roche
to develop an oral somatostatin analog formulated with the biotech's Transient
Permeability Enhancer technology.
Roche is receiving exclusive,
worldwide rights to Octreolin octreotide acetate in return for $65 million up
front. The Israeli biotech is eligible for up to $530 in milestones, plus
tiered, double-digit royalties.
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