Parvus and Genentech ink $800 million deal on autoimmune diseases

Privately-held Parvus Therapeutics has entered into a worldwide collaboration and license agreement with Genentech, a subsidiary of Roche (ROG: SIX), to develop, manufacture, and commercialize novel Navacim therapeutics for the treatment of inflammatory bowel disease (IBD), autoimmune liver diseases (ALD), and celiac disease (CD).

The deal is said to be worth a potential $800 million to Parvus, though precise details are not disclosed. Parvus will receive an undisclosed upfront payment and is eligible to receive research, development and commercialization milestone payments for each disease area within the collaboration, based on achievement of certain predetermined milestones. Parvus is also eligible to receive certain additional milestone payments in other disease areas, as well as royalties on net sales of products resulting from the collaboration.

Adds to collaboration with Novartis