From SCRIP Intelligence: Roche in $1.7bn deal for breast cancer innovator
Roche's Genentech business has agreed to pay $725m up front and up to $1bn in milestone-related payments to acquire Seragon Pharmaceuticals of San Diego, California. Seragon's most advanced product is in Phase I trials, but Roche believes its technology could herald a breakthrough in cancer treatment.
The target company is working on a new generation of breast cancer treatments that Genentech's head of research and early development, Dr Richard Scheller, said "could one day redefine the standard of care for hormone receptor-positive breast cancer."
Seragon has developed a class of medicines called selective estrogen receptor degraders, or SERDs, which it hopes will offer an improved approach to treating hormone-receptor positive breast cancer, and maybe also other cancers linked to the estrogen receptor.
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From SCRIP Intelligence: Genentech leads new breast cancer class with Seragon buy
Genentech has a leading position in HER2-positive breast cancer, so it makes sense for the Roche-owned company to plant its flag in a second, larger part of the breast market with an initial investment of $725m to buy San Diego-based Seragon Pharmaceuticals.
Genentech already dominates the market for HER2-targeting breast cancer therapies with four approved products that generated $7.4bn in worldwide revenue in 2013 – Herceptin (trastuzumab), Perjeta (pertuzumab), Kadcyla (ado-trastuzumab emtansine) and subcutaneous Herceptin. But only 25% of the 229,000 women diagnosed with breast cancer in the US each year have tumors that express the HER2 gene.
Seragon's selective estrogen receptor degraders (SERDs) may offer a new treatment for another 60% of breast cancer patients who have hormone receptor-positive breast cancer, which frequently grows resistant to existing therapies.
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