PeptiDream Announces Collaboration and License Agreement with Genentech for the Discovery and Development of Novel Peptide-Radioisotope Drug Conjugates

KAWASAKI, Japan--(BUSINESS WIRE)--PeptiDream Inc., a public Kanagawa, Japan-based biopharmaceutical company (President and CEO: Patrick C. Reid, hereinafter “PeptiDream”) (Tokyo: 4587) today announced a new multi-target collaboration and license agreement with U.S.-based Genentech, a member of the Roche Group, focused on the discovery and development of novel macrocyclic peptide-radioisotope (“peptide-RI”) drug conjugates.

Under the agreement, PeptiDream will use its proprietary Peptide Discovery Platform System (“PDPS”) technology to discover, optimize, and develop macrocyclic peptide candidates for use as peptide-RI drug conjugates against targets of interest to Genentech. PeptiDream will lead early preclinical development before transitioning peptide-RI drug conjugate products arising from the collaboration to Genentech for further development and commercialization. PeptiDream will retain the right to develop and commercialize such peptide-RI drug conjugate products in Japan.

The new collaboration and license agreement builds upon the long collaborative relationship between the companies, which started with a multi-target collaboration and license agreement in December 2015, followed by Genentech licensing PeptiDream’s PDPS technology in 2016, and expansion of the companies’ collaboration in 2018.

Under the terms of the agreement, PeptiDream will receive an upfront payment of $40 million USD (¥5.9 billion JPY)(1 USD = 147.7 JPY) from Genentech and be eligible for payments based on the achievement of specified development, regulatory, and commercial milestones potentially up to $1 billion USD (¥147.7 billion JPY). In addition, PeptiDream is eligible to receive tiered royalties on net sales (ex-Japan) of any such products arising from the collaboration.

“We are extremely excited to announce this new collaboration with Genentech for the discovery and development of peptide-RI drug conjugates. PeptiDream is a global leader in the discovery and development of peptide-RI conjugates, and through our PDRadiopharma, is one of the leading radiopharmaceutical companies in Japan. Combining this expertise with Genentech’s powerful clinical development and commercialization capabilities, we hope to bring innovative first-in-class peptide radiopharmaceuticals to patients worldwide.” said Patrick C. Reid PhD, President & CEO of PeptiDream.

About PeptiDream Inc.

PeptiDream Inc. (Tokyo Stock Exchange Prime Section 4587) is leading the translation of macrocyclic peptides into a whole new class of innovative medicines to address unmet medical needs and improve the quality of life of patients worldwide. Founded in 2006, PeptiDream employs its proprietary Peptide Discovery Platform System (PDPS) technology, a state-of-the-art highly versatile discovery platform which enables the production of highly diverse (trillions) non-standard peptide libraries with high efficiency, for the identification of highly potent and selective macrocyclic peptide candidates, which then can be developed into peptide-based, small molecule-based, or peptide-drug conjugate (PDC) and multi-functional peptide conjugates (MPC)-based therapeutics and diagnostics. PeptiDream has an extensive global network of discovery and development partners driving the development and commercialization of a broad and diversified pipeline of investigational therapeutics. PeptiDream also markets and sells a number of radiopharmaceutical and radiodiagnostic products in Japan, through its wholly owned subsidiary, PDRadiopharma. PeptiDream is headquartered in Kawasaki, Japan. For more information about our company, science and pipeline, please visit www.peptidream.com/en/