Skyhawk signs pact with Genentech to develop oncology treatments
Category: #healthcare  By Mateen Dalal  Date: 2019-07-18
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Skyhawk signs pact with Genentech to develop oncology treatments

Skyhawk Therapeutics, Inc., a drug discovery and development company, has recently announced that it has entered into an agreement with Genentech, a Roche Group member, to commercialize and develop small molecules that modulate RNA splicing. 

Apparently, the company will use its SkySTARTM technology platform to develop and discover small molecule treatments focused on certain neurological diseases and oncology targets.

Sources familiar with the matter informed that the agreement provides Genentech an exclusive global license to advance and commercialize potential therapeutics focused on various targets while Skyhawk obtains an upfront payment of $2 billion and is entitled to get future payments and royalties. As a part of an agreement, Genentech will be responsible for commercialization and clinical development.

Skyhawk Therapeutics is dedicated towards discovering, developing, and commercializing therapies that use its new SkySTARTM platform to create small molecule drugs that bring innovative treatments to patients.

According to Co-Founder and Chief Executive Officer of Skyhawk, Bill Haney, Genentech has long been a market leader in drug discovery for neurodegenerative disorders and oncology. The company is looking forward towards continuing to determine the utility of SkySTAR™ for discovering new RNA splicing modifiers focused on targets vital in the treatment of cancer and neurodegenerative diseases.

Global head of Pharma Partnering, Roche, James Sabry, M.D., Ph.D., stated that modulation of RNA splicing signifies a new way to address difficult-to-treat diseases. Skyhawk has developed exclusive expertise in splicing biology and the company is looking forward to discovering potential novel medicines for patients with neurodegenerative diseases and cancer.

Recently, Skyhawk Therapeutics and Merck & Co. had reportedly announced a partnership that could pay the Waltham, MA-based biotech around $600 million for each small molecule program the companies develop against cancer and neurodegenerative diseases.

The companies have formally agreed to develop, discover, and commercialize small molecules that modify RNA splicing, directed to various targets.

 

Source Credit: https://finance.yahoo.com/news/skyhawk-therapeutics-announces-agreement-genentech-120000652.html

About Author

Mateen Dalal    

Mateen Dalal

Despite working as a professional testing engineer, Mateen Dalal always held a liking for content creation. Following his passion, he now pens down articles for itresearchbrief.com and a couple of similar portals. Mateen is a qualified electronics and telecommunicat...

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