Genentech and Inotek have entered into a global collaboration to discover, develop, manufacture, and commercialize inhibitors of poly-ADP-ribose polymerase (PARP) for the potential treatment of cancer.
Genetech said that under the terms of the agreement, it will make an upfront payment of $20 million to Inotek, with the potential for upto $405 million in additional milestone payments. It will also pay royalties based on the net amount of sales of Inotek’s lead PARP inhibitor, INO-1001, or other next-generation PARP inhibitors. Genentech will also provide funding to utilize Inotek’s small molecule chemistry expertise as part of a muti-year collaborative research program and will pay for all future clinical development costs of INO-1001 and subsequent PARP inhibitors.
In addition, Genentech has retained the option to develop and commercialize Inotek’s PARP inhibitors to prevent cell death and complications associated with various acute cardiovascular conditions and procedures. In total, the option could be worth as much as $200 million.
