Date: 2013-02-18
Type of information:
Compound: Octreolin®
Company: Roche (Switzerland) Chiasma (USA - Israel)
Therapeutic area: Rare diseases - Hormonal diseases - Endocrine diseases -
Type agreement: development
commercialisation
Action mechanism: Octreolin is an investigational oral form of the peptide octreotide, a somatostatin analog that is commercially available only by injection. Octreolin® is currently in a pivotal phase 3 clinical trial for acromegaly.
Disease: acromegaly
neuroendocrine tumors
Details: Roche and Chiasma, a privately held biopharma company, have entered into an agreement to develop and commercialize Chiasma’s proprietary product Octreolin®, initially for acromegaly and subsequently for neuroendocrine tumors. Under the terms of the agreement, Roche received a worldwide exclusive license to Octreolin, and will assume responsibility for the commercialization of Octreolin®. Genentech will market the product in the United States after FDA approval. Chiasma will continue development through completion of the pivotal phase 3 clinical trial for acromegaly. This trial is currently ongoing in USA, Germany, Hungary, Israel, Italy, Lithuania, Mexico, Netherlands, Poland, Romania, Serbia, Slovenia and UK (NCT01412424).
Evercore Partners served as Chiasma’s financial advisor on the transaction, and Latham & Watkins LLP served as its legal counsel.
Financial terms: The arrangement includes an upfront payment to Chiasma of $65 million, future considerations of up to $530 million in development and commercial milestones, as well as tiered, double-digit royalties on Octreolin® net sales.
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