Proteostasis Therapeutics (PTI) announced a worldwide, exclusive license agreement with Genentech, a member of the Roche Group (RHHBY), for rights to potential therapeutic small molecule modulators of an undisclosed target within the proteostasis network. The agreement does not include cystic fibrosis transmembrane conductance regulator modulators and is unrelated to PTI’s investigational medicines or other ongoing research programs in cystic fibrosis. Under the terms of the agreement, in exchange for rights to these small molecule modulators, Proteostasis is eligible to receive upfront and milestone payments of over $100M. 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. Full financial terms, the therapeutic target and disease areas of focus are not disclosed.
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