Roche terminates agreement with NewLink
Genentech, the biotech unit of Swiss pharma giant Roche (ROG: SIX), has brought an end to its license and collaboration agreement with US immuno-oncology specialist NewLink Genetics (Nasdaq: NLNK).
In June 2017, Genentech handed back the rights to the cancer candidate GDC-0919 (navoximod), sending shares in NewLink plummeting by more than 40% in a day.
The partnership between the two companies had initially been agreed in 2014 and could have seen NewLink being paid more than $1 billion for Roche to develop GDC-0919. At that point, the collaboration for the discovery of next generation IDO/TDO (tryptophan 2,3-dioxygenase) inhibitors continued.
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