Nimble Therapeutics Announces Expansion of its Discovery and Development Partnership with Genentech
MADISON, Wis.--(BUSINESS WIRE)--Jan 5, 2023--
Nimble Therapeutics, a biotechnology company leveraging its next-generation peptide discovery platform to identify medicines for challenging-to-drug targets, today announced that the company has expanded its collaboration and executed a license agreement with Genentech, a member of the Roche Group (SIX:RO, ROG; OTCQX: RHHBY), for the discovery of peptide therapies for the treatment of diseases across multiple therapeutic areas.
“We are excited to significantly expand our partnership and strengthen our collaboration with Genentech,” said Jigar Patel, Founder & CEO of Nimble Therapeutics. “Genentech has been a valuable strategic partner and we are proud that our success thus far has led to the opportunity to significantly broaden our work together with both Genentech and Roche.”
Under the terms of the agreement, Nimble will receive a $20 million upfront payment; near-term, preclinical, clinical, and commercial milestone payments that could exceed $1.1 billion; as well as tiered royalties. Nimble will apply its platform against multiple targets, and Genentech and Roche will be responsible for preclinical and clinical development, and commercialization of any resulting products.
“This expanded partnership with Genentech, and the multiple recently achieved milestones across all our partnered programs, demonstrates Nimble’s capability to deliver peptide therapeutic candidates,” said Pete Gough, CSO of Nimble Therapeutics. “We are excited to further leverage our differentiated platform to accelerate development of optimized candidates against a larger set of novel targets in partnership with Genentech.”
“Given the success of our initial collaboration, we look forward to deepening our partnership with Nimble as we work together against a larger number of important and challenging targets across various disease areas,” said James Sabry, Global Head of Roche Pharma Partnering.
About Nimble Therapeutics
Nimble is a biotechnology company dedicated to delivering on the promise of peptide therapeutics. Leveraging a paradigm-shifting peptide drug discovery and development engine, Nimble combines massively parallel solid-phase synthesis, unrivaled chemical and structural diversity, sophisticated assays, and powerful analytics to discover and develop next generation peptide therapeutics efficiently and intelligently. Nimble has extensively validated its platform to identify highly biologically active compounds for multiple programs, spanning a wide variety of therapeutic target classes. For more information, visit www.nimbletherapeutics.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20230105005173/en/
CONTACT: Nimble Therapeutics, Inc.
Brad Garcia, Ph.D.
Vice President, Corporate Development
KEYWORD: WISCONSIN UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: BIOTECHNOLOGY PHARMACEUTICAL HEALTH CLINICAL TRIALS
SOURCE: Nimble Therapeutics
Copyright Business Wire 2023.
PUB: 01/05/2023 10:00 AM/DISC: 01/05/2023 10:01 AM