Repare Therapeutics shares rise by 25% after it announced its collaboration deal with Roche
- It executed a collaboration and worldwide license deal with Roche
- Roche will be responsible for the development of RP-3500 with the opportunity to expand development efforts.
- Repare Therapeutics will get an upfront payment of about $125 million.
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Repare Therapeutics Inc (NASDAQ: RPTX), a top clinical-stage precision oncology corporation, announced that it’s executed a collaboration and worldwide license deal with Roche for both the commercialization and development of RP-3500 (also known as camonsertib). This new shot up the company’s stock price by 25%.
Camonsertib is a selective and potent oral tiny molecule inhibitor of Rad3 and Ataxia-Telangiectasia based protein kinase which is designed to treat tumors using synthetic-lethal genomic alterations. Under the collaboration agreement, Roche will be responsible for the development of RP-3500 with the opportunity to expand development efforts into additional tumors.
How does top management feel?
Repare Therapeutics’ Head of Business & Corporate Development and Executive Vice President, Kim Seth, said:
Given the encouraging data Repare has generated for camonsertib as a potentially best-in-class ATR inhibitor with a promising tolerability profile and patient selection insights in areas of high unmet medical need… we are confident that Roche is the ideal partner for us to drive the broad global development and commercialization of camonsertib.
The EVP claims that RP-3500 has the potential to treat people with cancer across several solid tumor issues as a monotherapy. James Sabry, Roche’s Global Head of Pharma Partnering, said:
We are looking forward to partnering with Repare Therapeutics to further develop camonsertib as a new potential treatment option for patients with significant unmet medical needs across a range of tumor types. The collaboration with Repare builds on Roche’s strategy of personalized healthcare and further strengthens our leadership in oncology.
Details of the agreement
According to the collaboration deal, Repare Therapeutics will get an upfront payment of about $125 million, and the company is eligible to get as much as $1.2 billion in sales, commercial, regulatory and clinical milestones, including up to around $55 million in near-term payments, as well as any royalties from worldwide net sales that range from high teens to high-single-digits.
The collaboration deal also offers Repare Therapeutics with the chance to access a 50-50 United States profit share and co-development arrangement. If the company opts to exercise this option, it will be eligible to receive certain milestone payments.
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