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 Roch 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.
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.
The transaction is subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and other customary closing conditions.
This report by The Canadian Press was first published June 2, 2022.
The Canadian Press
