Press Release April 08, 2020

Arrakis Therapeutics Enters Strategic Collaboration and License Agreement with Roche, Receives $190 Million Upfront Cash Payment with Potential for Multi-Billion Dollar Future Payments

The Life Sciences team advised Arrakis Therapeutics on its strategic collaboration and license agreement with Roche (SIX: RO, ROG; OTCQX: RHHBY) for the discovery of RNA-targeted small molecule (rSM) drugs against a broad set of targets across all of Roche’s research and development areas.

Arrakis is a biopharmaceutical company pioneering the discovery of a new class of medicines that directly target RNA.

Under the terms of the agreement, Arrakis will lead discovery and research activities for each target to a defined point, at which time Roche will have the right to exclusively pursue further preclinical and clinical development. Arrakis will receive an upfront payment of $190 million in cash and may also receive preclinical, clinical, commercial and sales milestone payments and royalties for any resulting products. The aggregate potential value of future payments to Arrakis exceeds several billion dollars, subject to regulatory approvals and other conditions being met.

The Goodwin team was led by Erini Svokos and Kingsley Taft, along with Sarah Solomon and Sarah Stoiber.

For more details, read the press release and articles in The Boston Globe, Xconomy, STAT, Endpoints and FierceBiotech.