Oct. 19 Quick Takes: Genesis, Genentech in AI drug discovery deal; plus Endo-BioSpecifics, Gemini, Catalyst-Jacobus, ONK, Venclexta
Genesis and Genentech collaborate to identify drug candidates using AI
Stanford spinout and AI platform company Genesis Therapeutics Inc. entered into a collaboration agreement with the Genentech Inc. unit of Roche (SIX:ROG; OTCQX:RHHBY) to identify drug candidates for multiple diseases. Genesis will receive an upfront payment and is eligible to receive preclinical, clinical and regulatory milestone payments, as well as future royalties on Genentech’s sales of approved drugs resulting from the collaboration. The deal terms are undisclosed.
Endo buying partner BioSpecifics
Endo International plc (NASDAQ:ENDP) is buying BioSpecifics Technologies Corp. (NASDAQ:BSTC) for $88.50 per share in cash, or an estimated enterprise value of about $540 million. The companies have had a partnership since 2004 under which BioSpecifics receives a royalty stream related to Endo’s collagenase products, including Xiaflex Qwo. Endo said the deal will improve the products’ profitability...