Genentech Enters into a Multi-Year Research Collaboration with Novome Biotechnologies to Develop Targets Against Inflammatory Bowel Disease
Shots:
- Novome to receive $15M up front & is also eligible to receive ~$590M in milestone upon the achievement of prespecified development and commercial milestones along with royalties on sales & also obtains the rights to develop its own, wholly-owned IBD product utilizing targets outside of those included in the collaboration
- The collaboration will utilize Novomes GEMMs platform to discover and accelerate new treatments for patients with IBD
- Novome will lead the research activities including initiation of IND-enabling preclinical studies. Genentech will lead the clinical development of product and commercialization of therapies resulting from the collaboration
Ref: Globe Newswire | Image: Novome Bio
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