Chiasma grants Roche rights to acromegaly compound

Chiasma Inc. (Jerusalem, Israel) granted Roche (SIX:ROG; OTCQX:RHHBY) exclusive, worldwide rights to develop and commercialize Octreolin octreotide acetate to treat acromegaly and neuroendocrine tumors. Chiasma will receive $65 million up front and is eligible for up to $530 million in milestones, plus tiered, double-digit royalties. Chiasma will develop the product through an ongoing Phase III trial for acromegaly, with data expected in 3Q13 and MAA and NDA submissions slated for 1Q14. A Phase II trial of Octreolin to treat neuroendocrine tumors is slated to start later this year. Evercore Partners advised Chiasma. ...