Parvus Therapeutics Enters into Agreement with Genentech
On May 16, 2019, Parvus Therapeutics, a biopharmaceutical company focused on the development of disease-specific immunoregulatory medicines to treat autoimmune diseases without impairing normal immunity, announced that it has entered into a worldwide collaboration and license agreement with Genentech, a member of the Roche Group, to develop, manufacture, and commercialize novel Navacim™ therapeutics for the treatment of inflammatory bowel disease, autoimmune liver diseases, and celiac disease. Wilson Sonsini Goodrich & Rosati represented Parvus in the transaction.
According to a press release, Parvus is eligible to receive upfront and milestone payments of more than $800 million from Genentech. Specifically, the company will receive an undisclosed upfront payment and is eligible to receive research, development, and commercialization milestone payments for each disease area within the collaboration, based on achievement of certain predetermined milestones. Parvus is also eligible to receive certain additional milestone payments in other disease areas, as well as royalties on net sales of products resulting from the collaboration.
Under the terms of the agreement, Parvus will conduct pre-clinical development and clinical development activities through Phase I. Genentech will be responsible for clinical development from Phase II and beyond, including global regulatory submissions and worldwide commercialization of products.
For further details, please see Parvus' press release.