The Life Sciences team advised Proteostasis Therapeutics on its worldwide, exclusive license agreement with Genentech for rights to potential therapeutic small molecule modulators of an undisclosed target within the proteostasis network.
Under the terms of the agreement, Proteostasis is eligible to receive upfront and milestone payments of over $100 million. In addition, Proteostasis is eligible to receive tiered royalties on sales of medicines resulting from the license agreement. Genentech is responsible for all further research and development expenses related to the program. The agreement does not include cystic fibrosis transmembrane conductance regulator (CFTR) modulators and is unrelated to PTI's investigational medicines or other ongoing research programs in cystic fibrosis. Full financial terms, the therapeutic target and disease areas of focus were not disclosed.
Proteostasis Therapeutics is a clinical stage biopharmaceutical company developing small molecule therapeutics to treat cystic fibrosis and other diseases caused by dysfunctional protein processing.
For additional details on the agreement, please read the press release.