Prothena inks deal with Roche, worth a potential $600 million

12 December 2013

Biotech firm Prothena (Nasdaq: PRTA) has entered into a worldwide collaboration with Swiss drug major Roche (ROG: SIX) to develop and commercialize antibodies that target alpha-synuclein.

Under the terms of the deal, Prothena is eligible to receive up to $600 million, inclusive of upfront payment and near-term clinical milestone totaling $45 million, as well as 30% of US profits, and up to double-digit royalties on ex-US net sales. Prothena, which is incorporated in Ireland, was spun out of Irish drugmaker Elan last December.

Included in the collaboration is PRX002, Prothena's monoclonal antibody for the treatment of Parkinson's disease, which is currently in preclinical development and is expected to enter Phase I clinical trials in patients with Parkinson's disease in 2014.

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