Sosei Heptares Will Receive US$3.75 Million Payment in Multi-Target Partnership
Tokyo, Japan and Cambridge, UK, 31 October 2023 – Sosei Group Corporation (“Sosei Heptares” or “the Company”; TSE: 4565) will receive a US$3.75 million milestone payment under the 2019 multi-target Research Collaboration and License Agreement with Genentech, a member of the Roche Group. The discovery-based payment is related to progression of a potential first-in-class project targeting an undisclosed G protein-coupled receptor (“GPCR”). Genentech will now be responsible for further development and commercialization of this potential new medicine.
This milestone is the latest of an ongoing collaboration that utilizes Sosei Heptares’ proprietary GPCR-focused structure-based drug design capabilities combined with Genentech’s discovery, development and therapeutic area expertise directed towards multiple GPCR targets nominated by Genentech.
Under the terms of the agreement, Sosei Heptares is eligible to receive future milestone payments from Genentech, which in total may exceed US$1 billion upon achieving pre-specified research, development and commercialization events.
Dr. Matt Barnes, President of Heptares Therapeutics and Head of UK R&D at Sosei Heptares, said: “We are extremely pleased to see the progression of this novel first-in-class project. The insight and expertise from both companies from target selection and drug discovery is a truly exciting combination and further demonstrates the productivity of our structure-based drug design platform. We look forward to further achievements from this successful partnership.”
The milestone payment will be recognized as revenue in the fourth quarter of the financial year ending 31 December 2023.
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About the agreement with Genentech
Sosei Heptares and Genentech entered into a multi-target research collaboration and license agreement in July 2019, to discover and develop novel medicines (new small molecules and/or biologics) that modulate G protein-coupled receptor (GCPR) targets. Under the terms of the agreement, Sosei Heptares is eligible to receive future milestone payments from Genentech, which in total may exceed US$1 billion upon achieving pre-specified research, development and commercialization events. Additionally, the Company is eligible to receive royalty payments on the net sales of potential future medicines arising from the collaboration. Genentech is responsible for developing and commercializing potential new medicines for each novel target and has exclusive global rights to these agents. Further details of the agreement can be found by clicking here.
About Sosei Heptares
Sosei Heptares is a fully integrated biopharmaceutical company focused on bringing life-changing medicines based on world-class science to patients globally. Our vision is to become one of Japan’s global biopharmaceutical champions.
Our global business combines our world-leading GPCR-targeted StaR® technology, structure-based drug design and early development capabilities in the UK with a highly experienced clinical development capability and a commercial operation in Japan.
We are leveraging these capabilities to generate and advance a broad and deep pipeline of novel medicines across multiple therapeutic areas, including neurology, immunology, gastroenterology and inflammatory diseases. We intend to develop these opportunities for patients in Japan and globally both internally and through our partnerships with global biopharmaceutical companies and emerging technology companies.
Sosei Heptares operates from key locations in Tokyo and Osaka (Japan), London and Cambridge (UK), Basel (Switzerland) and Seoul (South Korea).
“Sosei Heptares” is the corporate brand and trademark of Sosei Group Corporation, which is listed on the Tokyo Stock Exchange (ticker: 4565). Sosei, Heptares, the logo and StaR® are trademarks of Sosei Group companies.
For more information, please visit https://soseiheptares.com/
LinkedIn: @soseiheptaresco | Twitter: @soseiheptaresco | YouTube: @soseiheptaresco
Enquiries:
Sosei Heptares – Media and Investor Relations
Kentaro Tahara, VP Investor Relations and Corporate Strategy
Shinichiro Nishishita, VP Investor Relations, Head of Regulatory Disclosures
Maya Bennison, Communications Manager
+81 (0)3 5210 3399 | +44 (0)1223 949390 | IR@SoseiHeptares.com
MEDiSTRAVA Consulting (for International Media)
Mark Swallow, Frazer Hall, Erica Hollingsworth
+44 (0)203 928 6900 | SoseiHeptares@medistrava.com
Forward-looking statements
This press release contains forward-looking statements, including statements about the discovery, development, and commercialization of products. Various risks may cause Sosei Group Corporation’s actual results to differ materially from those expressed or implied by the forward-looking statements, including: adverse results in clinical development programs; failure to obtain patent protection for inventions; commercial limitations imposed by patents owned or controlled by third parties; dependence upon strategic alliance partners to develop and commercialize products and services; difficulties or delays in obtaining regulatory approvals to market products and services resulting from development efforts; the requirement for substantial funding to conduct research and development and to expand commercialization activities; and product initiatives by competitors. As a result of these factors, prospective investors are cautioned not to rely on any forward-looking statements. We disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
