RELEASED ON 18/02/13 (DD/MM/YY)
Roche Holding AG (ROG.VX) Monday said it and Chiasma Inc., a privately held biopharma company, have entered into an agreement to develop and commercialize Chiasma's proprietary product Octreolin, initially for acromegaly and subsequently for neuroendocrine tumors.
Octreolin is an investigational oral form of the peptide octreotide, a somatostatin analog that is commercially available only by injection, and is currently in a pivotal phase 3 clinical trial for acromegaly.
Under the terms of the agreement, Roche received a worldwide exclusive license to Octreolin, and will assume responsibility for the commercialization of Octreolin.
Genentech will market the product in the United States after US FDA approval.
Chiasma will continue development through completion of the pivotal phase 3 clinical trial for acromegaly.
The arrangement includes an upfront payment to Chiasma of $65 million, future considerations of up to $530 million in development and commercial milestones, as well as tiered, double-digit royalties on Octreolin net sales.
Hal Barron, Roche's Global Head of Product Development and Chief Medical Officer said: "If approved, Octreolin would be an important alternative for patients with acromegaly, a disorder that develops when a person's pituitary gland produces too much growth hormone.
SOURCE Factiva News - For internal use only
Roche Holding AG (ROG.VX) Monday said it and Chiasma Inc., a privately held biopharma company, have entered into an agreement to develop and commercialize Chiasma's proprietary product Octreolin, initially for acromegaly and subsequently for neuroendocrine tumors.
Octreolin is an investigational oral form of the peptide octreotide, a somatostatin analog that is commercially available only by injection, and is currently in a pivotal phase 3 clinical trial for acromegaly.
Under the terms of the agreement, Roche received a worldwide exclusive license to Octreolin, and will assume responsibility for the commercialization of Octreolin.
Genentech will market the product in the United States after US FDA approval.
Chiasma will continue development through completion of the pivotal phase 3 clinical trial for acromegaly.
The arrangement includes an upfront payment to Chiasma of $65 million, future considerations of up to $530 million in development and commercial milestones, as well as tiered, double-digit royalties on Octreolin net sales.
Hal Barron, Roche's Global Head of Product Development and Chief Medical Officer said: "If approved, Octreolin would be an important alternative for patients with acromegaly, a disorder that develops when a person's pituitary gland produces too much growth hormone.
SOURCE Factiva News - For internal use only