Constellation targets IPO after Genentech passes on takeout

Constellation Pharmaceuticals Inc. (Cambridge, Mass.) plans to tap the public markets now that the Genentech Inc. unit of Roche (SIX:ROG; OTCQX:RHHBY) has declined to exercise a one-time option to acquire the epigenetics company. Genentech gained the option under a 2012 deal to discover and develop small molecules targeting multiple epigenetic target classes (see BioCentury, Jan. 23, 2012).

Constellation President and CEO Keith Dionne told BioCentury Genentech had an all-or-nothing option, but was interested only in Constellation's two lead programs and planned to shut down the rest of the company. Constellation's leads are in Phase I testing to treat cancer: CPI-1205 is an enhancer of zeste homolog 2 (EZH2) inhibitor, while CPI-0610 is a BET bromodomain inhibitor. It has three additional programs moving toward lead optimization. ...