Genentech to acquire Regor's next-gen CDK inhibitors portfolio

Sino-American biotech Regor Pharmaceuticals has entered into a definitive purchase agreement whereby Swiss pharma major Roche (ROG: SIX) subsidiary Genentech will acquire a portfolio of next-generation CDK inhibitors from Regor for the treatment of breast cancer.

The deal provides for Regor to receive an upfront cash payment of $850 million and is eligible to receive additional cash payments based on the achievement of certain predetermined development, regulatory and commercial milestones.

Genentech will be responsible for clinical development, manufacturing and commercialization worldwide. Regor will continue to manage the two ongoing Phase I trials to their completion: Regor will also advance its other distinct assets, unrelated to this deal, in oncology, metabolic diseases and auto-immunity.