Vividion Therapeutics Earns First Milestone Payment for Advancement of Program Addressing High Value Oncology Target
SAN DIEGO--(BUSINESS WIRE)-- Vividion Therapeutics, Inc.., a biopharmaceutical company utilizing novel discovery technologies to unlock high value, traditionally undruggable targets with precision therapeutics for devastating cancers and immune disorders, today announced that it has earned its first milestone payment related to its exclusive worldwide collaboration, option and license agreement with Roche. The payment follows Vividion’s completion of a preclinical data package for a program addressing a well-known, but difficult to drug target, for the potential treatment of oncology indications.
“We have been hard at work since executing our collaboration with Roche just over a year ago and are proud to have achieved this first milestone against an incredibly exciting target in oncology,” said Jeffrey Hatfield, chief executive officer of Vividion. “We are excited to continue our collaboration with Roche as we work to advance this program toward a potential development candidate.”
Roche and Vividion executed an exclusive worldwide collaboration, option and license agreement in April 2020 focused on the discovery and development of programs addressing a range of oncology and immunology targets. As part of the agreement, Vividion received a $135 million upfront payment and is responsible for early drug discovery and preclinical development for selected programs. For a subset of certain 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 is eligible to receive up to several billion dollars in payments based on the achievement of preclinical, development and commercial milestones, as well as royalties on sales of commercialized products resulting from the collaboration.
Vividion Therapeutics, Inc. is a biopharmaceutical company utilizing novel discovery technologies to unlock high value, traditionally undruggable targets with precision therapeutics for devastating cancers and immune disorders. The company’s platform has enabled it to identify hundreds of previously unknown functional pockets on well-validated protein targets implicated in a wide range of diseases, while simultaneously identifying compounds from its proprietary covalent chemistry library that interact in a highly selective manner with those pockets. The company is leveraging its proprietary chemoproteomic platform to advance a diversified pipeline of highly selective small molecule therapeutics targeting high value, traditionally undruggable targets in oncology and immunology. For more information, please visit www.vividion.com.
THRUST Strategic Communications
Source: Vividion Therapeutics, Inc.