Roche to buy Good Therapeutics and its active PD-1-regulated IL-2 program

Privately-held Seattle, USA-based drug developer Good Therapeutics today revealed that it has entered into a definitive agreement to be acquired by Swiss pharma giant Roche (ROG: SIX).

With this acquisition, Roche will gain rights to Good Therapeutics’ innovative, conditionally active, PD-1-regulated interleukin (IL)-2 program and an exclusive right to the platform technology for the development of PD-1-regulated IL-2 receptor agonist therapeutics. The program is at a pre-clinical stage, and has demonstrated excellent in vitro and in vivo data, validating both the Good platform and the target, Roche noted.

Under the terms of the merger agreement, Roche will make an upfront cash payment of $250 million for the shares on a fully diluted basis and additional payments based on the achievement of predetermined development, regulatory, and commercial milestones. The transaction is conditioned upon clearance under the Hart-Scott-Rodino Antitrust Improvements Act and is expected to close in the third quarter of 2022.