Exclusive worldwide license and collaboration agreement to discover, develop and commercialize small molecule drug candidates against several RNA targets.
Partnership will leverage Ribometrix’s RNA-targeting small molecule discovery platform.
Ribometrix to receive $25 million upfront payment and is eligible for potential milestone payments exceeding $1 billion.
DURHAM, N.C. – January 6, 2021 – Ribometrix, Inc., today announced a strategic collaboration with Genentech, a member of the Roche Group, to discover and develop novel RNA-targeted small molecule therapeutics against several targets.
Ribometrix is focused on leveraging its RNA structural expertise and analytical capabilities to make the vast landscape of RNA, which is involved in a wide variety of disease processes, accessible to small molecule therapeutics. Ribometrix’s platform uses multiple specialized technologies, including world-leading structural analytic capabilities, to identify 3D motifs in RNA molecules and then design small molecule candidates that bind to these motifs to produce a therapeutic effect.
“The ability to specifically target the 3D structure of RNA opens up an array of new possibilities in medicine, and Ribometrix is building the capabilities to deliver on that promise,” said Michael Solomon, Ph.D., chief executive officer of Ribometrix.
“This collaboration with Genentech unites our RNA therapeutics leadership with their global reach and broad expertise to accelerate development of this important new class of medicines.”
“Genentech is committed to exploring innovative approaches to drug targets that are difficult to address with conventional approaches,” said James Sabry, M.D., Ph.D., global head of Pharma Partnering, Roche. “Ribometrix has built capabilities to drug specific RNAs, and we look forward to a productive collaboration to explore this emerging area of science.”
About the Collaboration
Ribometrix will apply its proprietary discovery platform to identify and optimize small molecule compounds that modulate RNA function by targeting three-dimensional (3D) RNA structures. Under the terms of the agreement, Ribometrix and Genentech will collaborate on the discovery and preclinical development of programs. Genentech will be responsible for further development and commercialization. Genentech will pay Ribometrix a $25 million upfront payment, and in return will receive exclusive rights to several predefined targets including an exclusive global license for the development and commercialization of molecules under this collaboration. Ribometrix will also be eligible to receive potential milestone payments exceeding $1 billion as well as tiered royalties on future global net sales of products that result from the collaboration.
About the Ribometrix RNA-targeted Therapeutics Platform
Ribometrix’s platform uses multiple specialized technologies, including world-leading structural analytic capabilities, to identify 3D motifs in RNA molecules and then design small molecule candidates that bind to these motifs to produce a therapeutic effect. Ribometrix has shown that many RNAs implicated in disease contain structural pockets amenable to targeting with small molecules. The potential benefits of small molecule binders of RNA over current protein and RNA-based approaches include potency, selectivity, oral bioavailability, tissue distribution and central nervous system penetration.
About Ribometrix
Ribometrix is a biotechnology company pioneering a completely new class of small molecule therapeutics that directly target and modulate the function of RNA to treat human diseases. Ribometrix leverages its world-leading expertise in three-dimensional structural analysis of RNA to drive its discovery platform for the identification of novel small molecules that modulate the function of RNA and proteins associated with human disease. Ribometrix completed a $30 million Series A financing in late 2018 and is headquartered in Durham, North Carolina.
Ribometrix Contact:
Tom Donovan
Ten Bridge Communications
tom@tenbridgecommunications.com
+1 857-559-3397