Vividion Therapeutics Announces Drug Discovery Collaboration with Roche Focused on Novel E3 Ligases
- Multi-Target Collaboration Leverages Vividion's Screening Platform to Discover and Develop Highly Selective Small Molecules for E3 Ligases and Select Oncology and Immunology Targets
- Vividion Receives $135 Million Upfront Payment With Potential for Multi-Billion Dollar Future Payments
SAN DIEGO, May 19, 2020 /PRNewswire/ -- Vividion Therapeutics, a biotechnology company discovering and developing highly selective small molecule medicines that drug traditionally inaccessible targets, today announced that it has entered into an exclusive worldwide option and license agreement with Roche (SIX: RO, ROG; OTCQX: RHHBY) to leverage its proteomics screening platform and proprietary small molecule library to target novel E3 ligases, as well as a range of oncology and immunology therapeutic targets. Roche has the exclusive right to license resulting compounds at different stages of development.
E3 ligases are an important class of proteins responsible for directing target proteins to the proteasome for degradation. Small molecules directed to novel E3 ligases with potentially differentiated properties, such as tissue-restricted bioactivity or stronger target recognition, have the potential to unlock a wide range of valuable therapeutic applications.
As part of the agreement, Vividion will be responsible for early drug discovery and pre-clinical development for selected programs. For a subset of such programs, Vividion has the right to conduct clinical development up to proof-of-concept with the option to share development costs and split U.S. profits and losses with Roche.
Vividion will receive $135 million in a cash upfront payment from Roche and is eligible to receive several billion dollars in payments based on the achievement of preclinical, development and commercial milestoness, as well as royalties on sales of commercialized products resulting from the collaboration.
"We are thrilled to partner with Roche, marking the second major collaboration for Vividion focused on developing small molecule drugs against promising, untapped therapeutic targets," stated Dr. Diego Miralles, Chief Executive Officer of Vividion. "This collaboration with Roche will further expand a new pillar of our pipeline focused on leveraging distinct E3 ligases to bring cutting-edge treatments to patients in need."
"Our proprietary platform has demonstrated the ability to identify molecules that can drug challenging protein classes, such as transcription factors, adaptor proteins, and E3 ligases," stated Dr. Fred Aslan, President and Chief Business Officer of Vividion. "We look forward to discovering new therapies with Roche while simultaneously advancing our wholly owned pipeline."
"Partnering is a cornerstone of Roche's research strategy to transform novel ideas into medicines. We are excited about Vividion's approach to small molecule discovery and are looking forward to working with their team to discover potential new medicines for patients with cancer and immunological diseases," said James Sabry, Global Head of Roche Pharma Partnering.
Vividion Therapeutics, Inc. is a biotechnology company focused on transforming the future of human health through the creation of highly selective small molecule medicines that drug traditionally inaccessible targets. The company is advancing a broad, diversified pipeline of multiple, selective small molecule therapeutics for highly sought-after disease-causing target proteins in oncology and immunology. The company's cutting-edge platform was spun out of the labs of Vividion's scientific founders, a team of experts in chemical biology and synthetic chemistry from The Scripps Research Institute in La Jolla, CA. For more information, please visit www.vividion.com.
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SOURCE Vividion Therapeutics
Company Codes: OTC-PINK:RHHBY, Swiss:RO, Swiss:ROG, OTC-QX:RHHBY