Jan. 6 Quick Takes: Ribometrix gets $25M up front in Genentech RNA deal; plus Dewpoint-Pfizer, Kite-Oxford BioTherapeutics, Illumina-Helix and more
Ribometrix, Genentech partner for RNA-targeting small molecules
Ribometrix Inc. and the Genentech Inc. unit of Roche (SIX:ROG; OTCQX:RHHBY) are partnering to develop small molecules against undisclosed RNA targets. Ribometrix will receive $25 million up front and is eligible for more than $1 billion in milestone payments, plus tiered royalties on global net sales of products resulting from the partnership. The two companies will collaborate on discovery and preclinical development, and Genentech will be responsible for further development and commercialization. Ribometrix also has an ongoing partnership Vertex Pharmaceuticals Inc. (NASDAQ:VRTX), launched in 2019.
Pfizer becomes third pharma to partner with Dewpoint on condensates
Biomolecular condensates-focused Dewpoint Therapeutics is partnering with Pfizer Inc. (NYSE:PFE) to develop therapies for myotonic dystrophy type 1 (DM1). Dewpoint may receive up to $239 million in an upfront payment and research, development, and sales milestones, plus royalties. The company formed a women’s health and cardiovascular disease partnership with Bayer AG (Xetra:BAYN) in 2019, and struck a deal focused on HIV therapy with Merck & Co. Inc. (NYSE:MRK) in 2020...