Roche deal clears path for Blueprint’s financial independence
Blueprint receives $775M up front, diagnostic capabilities via licensing deal for RET inhibitor pralsetinib
In the year’s largest licensing deal thus far, Blueprint has secured the resources it needs to sustain itself financially while gaining access to Roche’s diagnostic capabilities, a key driver for commercializing its targeted therapies for genetically-defined populations.
For Roche (SIX:ROG; OTCQX:RHHBY), the deal provides a second crack at a precision oncology therapy targeting RET.
Via the companies’ deal to develop and commercialize pralsetinib, Blueprint Medicines Corp. (NASDAQ:BPMC) will receive $675 million up front in cash, a $100 million equity investment and up to $927 million in milestones.
The upfront payment tops the $750 million Genmab A/S (CSE:GMAB; NASDAQ:GMAB) received from AbbVie Inc. (NYSE:ABBV) in a June 10 deal that extended the pharma’s tool kit in cancer to include the much-watched area of T