RNA-targeting small molecule play Arrakis taps Roche as first pharma partner

For its first partnership, RNA-targeting therapeutics developer Arrakis has chosen Roche for a multitarget deal that lands the biotech a $190 million upfront payment, while allowing it to remain an independent company with an eye on an eventual listing.

Arrakis Therapeutics Inc. will grant Roche (SIX:ROG; OTCQX:RHHBY) options to obtain rights to therapies Arrakis will develop against an undisclosed number of prespecified targets. The biotech will perform preclinical work until Roche must decide whether to opt in, at which point the pharma will fund the remaining preclinical work and subsequent clinical testing...