Japan-based biopharmaceutical company PeptiDream has entered a multi-target partnership and licence agreement with Genentech to discover and develop new macrocyclic peptide-radioisotope (peptide-RI) drug conjugates.
PeptiDream will leverage its peptide discovery platform system (PDPS) technology for discovering, optimising and developing the macrocyclic peptide candidates.
These candidates will be utilised as peptide-RI drug conjugates against various targets chosen by Genentech.
PeptiDream will oversee the initial preclinical activities linked to the development of peptide-RI drug conjugate products.
Genentech will manage further development and marketing of these products.
In Japan, PeptiDream will hold the right to the development and commercialisation of the products arising out of the partnership.
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Under the deal, Genentech will make an upfront payment of $40m (Y5.92bn) to PeptiDream.
PeptiDream is also entitled to receive potential milestone payments of up to $1bn on meeting development, regulatory and commercial goals.
Genentech will also make tiered royalty payments based on net product sales for markets outside of Japan.
PeptiDream president and CEO Patrick Reid said: “We are extremely excited to announce this new collaboration with Genentech for the discovery and development of peptide-RI drug conjugates.
“Combining this expertise with Genentech’s powerful clinical development and commercialisation capabilities, we hope to bring innovative first-in-class peptide radiopharmaceuticals to patients worldwide.”
The latest deal comes after PeptiDream and Genentech entered a multi-target partnership and licence agreement in December 2015.
Under the 2015 agreement, Genentech licensed the PDPS technology of PeptiDream in 2016 and the partnership was subsequently expanded in 2018.