Montreal cancer company Repare inks deal with Roche worth more than US$1B

The Pharmaceutical Laboratories "Roche" based in Basel Mulhouse (city of pharmaceutical laboratories) extend opposite the Coronavirus Pandemia. General illustration of the Roche site in Basel. Switzerland Basel Mulhouse, March 8 2021. Photo by Francois Glories/ABACAPRESS.COM.

Repare Therapeutics Inc. has struck a deal with pharmaceutical giant F. Hoffman-La Roche AG that could be worth more than US$1 billion.

The Montreal-based cancer drug company, which is working on highly-targeted therapies, says Roche will help develop and commercialize the drug camonsertib.

Camonsertib, also known as RP-3500, is Repare’s lead product candidate, and a molecule inhibitor for the treatment of tumors.

Read more: Research done in Montreal could lead to treatment for aggressive form of breast cancer

Repare says under the terms of the licence and collaboration agreement, it will receive a US$125 million upfront payment, and is “eligible to receive up to US$1.2 billion in potential clinical, regulatory, commercial and sales milestones.”

Repare also says that the deal will give it the ability to opt in to a 50/50 U.S. co-development and profit share arrangement.

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The transaction is subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and other customary closing conditions.

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