Scenic Biotech inks genetic modifier collaboration with Genentech

Netherlands-based Scenic Biotech has entered into a multi-year strategic collaboration with Genentech, a subsidiary of Swiss pharma giant Roche (ROG: SIX), to discover, develop and commercialize novel therapeutics that target genetic modifiers.

Under the terms of the agreement, Scenic will utilize its Cell-Seq platform and its data warehouse of genetic modifiers to identify drug targets in multiple therapeutic areas. The collaboration enables Genentech to select multiple targets for further development with an option to extend the collaboration. Scenic will receive an undisclosed upfront payment and is eligible to receive additional target selection fees for drug targets taken forward by Genentech.

Deal could be worth more than $375 million