Genentech Inc, Roche, Seragon deal

Roche’s Genentech unit will acquire cancer company Seragon 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, New Brunswick, N.J.). Seragon raised $30 million in a series A round in October (see BioCentury, Sept. 2, 2013). ...