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NovImmune SA Eyes IPO After Licensing Deal With Roche (RHHBY)'s Genentech (RHHBY)


7/26/2010 7:59:19 AM

PLAN-LES-OUATES, Switzerland--(BUSINESS WIRE)--NovImmune, an antibody-focused research and development biotech company, announced today that it successfully entered into an exclusive licensing agreement with Genentech Inc. a member of the Roche Group (SIX: RO, ROG; OTCQX: RHHBY) for a proprietary anti-IL-17 fully human monoclonal antibody, and access to back-up antibodies. Recently, the IL-17 signaling pathway has received significant academic and corporate interest as its manipulation may potentially provide new treatment opportunities for major medical conditions.

“We believe Genentech is the right partner for NovImmune for this program. Genentech brings an in-depth understanding of IL-17 biology and extensive experience in its ability to potentially identify patient populations that may benefit from such a compound thus maximizing chances of successful development.”

The anti-IL-17 antibody was generated by NovImmune’s research team and is currently in late preclinical development. Under the terms of the agreement NovImmune will receive an upfront payment and is eligible to receive clinical milestones and royalties on sales. Full financial terms have not been disclosed.

Jack Barbut, CEO, commented “We believe Genentech is the right partner for NovImmune for this program. Genentech brings an in-depth understanding of IL-17 biology and extensive experience in its ability to potentially identify patient populations that may benefit from such a compound thus maximizing chances of successful development.”

James Sabry, Vice President of Genentech Partnering, said “Genentech is very pleased to have the opportunity to work with NovImmune on the development and potential commercialization of this anti-IL-17 antibody. We are hopeful that it has the potential to benefit patients across a range of autoimmune diseases.”

NovImmune SA

NovImmune SA (‘NovImmune’) is a drug discovery and development company with a focus on therapeutic mAbs for inflammatory diseases and immune-related disorders.

NovImmune has generated, to date, seven proprietary mAbs. The pipeline is a balance of preclinical and clinical compounds, with a mix of both clinically validated as well as novel targets. Each of these portfolio products has the potential to become a medicine for multiple medical conditions due to the overlapping mechanism of action under laying these types of diseases.

Three compounds are at this time in clinical development, with the most advanced in Phase II. The company has currently 70 employees based in Plan-les-Ouates/Geneva, Switzerland.

For more information please visit our website: www.novimmune.com.

About Genentech

Founded more than 30 years ago, Genentech is a leading biotechnology company that discovers, develops, manufactures and commercializes medicines to treat patients with serious or life-threatening medical conditions. The company, a member of the Roche Group, has headquarters in South San Francisco, California. For additional information about the company, please visit http://www.gene.com.

Contacts

Jack Barbut CEO NovImmune SA T +41 22 839 71 41 F +41 22 839 71 42 or Luca Bolliger Director, Business Development and Communication NovImmune SA T +41 22 593 51 15 F +41 22 839 71 42 Permalink: http://www.businesswire.com/news/biospace/20100726005424/en/NovImmune-Enters-Exclusive-Antibody-Licensing-Agreement-Genentech


   

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