Genentech to acquire Seragon

The Genentech Inc. unit of Roche (SIX:ROG; OTCQX:RHHBY) will acquire cancer company Seragon Pharmaceuticals Inc. (San Diego, Calif.) for $725 million in cash up front plus up to $1 billion in milestones. Seragon is developing selective estrogen receptor degraders (SERDs) for ER-positive metastatic breast cancer patients who have failed anti-estrogen therapy. The company's lead SERD, ARN-810, is in a Phase I trial for the indication, with data expected in 4Q14.

Seragon was spun out of Aragon Pharmaceuticals Inc. in August, when the latter company was acquired by Johnson & Johnson (NYSE:JNJ). Seragon raised $30 million in a series A round in October (see BioCentury, Jan. 13). ...