As a result of the $7.1 billion transaction, Roche will gain the rights to develop and distribute RVT-3101 in the US and Japan. The deal is expected to be completed by the end of this year or the first quarter of 2024.
Swiss healthcare giant F. Hoffmann-La Roche AGCommonly known as Roche Holding AG (SWX:RO) announced It is owned by Telvant Holdings, Inc. Will acquire. It is known as a developer of innovative drugs and treatments for patients with inflammatory and fibrotic diseases. Currently, the company is owned by Roivant Sciences Ltd. (NASDAQ: ROIV) Pfizer Inc (NYSE:PFE), at 75% and 25% stake respectively.
Roche-Telavent deal terms
As a result of the $7.1 billion transaction, Roche will gain the rights to develop and distribute RVT-3101 in the US and Japan. Roche will make an upfront payment of the purchase price and a near-term milestone payment of $150 million. Currently, RVT-3101 is being prepared for final testing, and Roche is committed to starting a global Phase 3 trial for the drug.
While Roche will have the commercialization rights in the US and Japan, outside, only Pfizer will be in charge. Additionally, once the deal is closed, Roche will also be able to enter into a global collaboration with Pfizer to develop a next generation p40/TL1A-directed specific antibody that is currently in Phase 1 trials.
The transaction is expected to be completed by the end of this year or the first quarter of 2024.
About RVT-3101
Televent’s RVT-3101 is a novel antibody drug designed to treat Crohn’s disease and ulcerative colitis. This drug is now undergoing clinical trials and is showing improved efficacy from the initiation to maintenance period of treatment with RVT-3101. The maintenance treatment phase after induction resulted in clinical remission (36% at week 56) as well as endoscopic improvement (50% at week 56) at the proposed phase 3 dose administered subcutaneously every month.
Levi Garraway, Roche’s chief medical officer and head of global product development, commented:
“The recent Phase 2b for RVT-3101 provided the first long-term, robust dataset demonstrating improved clinical remission in the maintenance treatment phase. Given this promising data, we believe RVT-3101 has the potential to be the first therapy that offers high efficacy and safety and the convenience of at-home, subcutaneous administration for people with inflammatory bowel disease .
Roche CEO Thomas Scheinaker said:
“We strongly believe that this novel TL1A-directed antibody has the transformative potential to make a significant difference to patients suffering from inflammatory bowel disease and potentially other diseases. We are excited to add this promising new therapy in development to our portfolio and make it available to patients as soon as possible.
Inflammatory bowel disease (IBD) is a group of chronic gastrointestinal disorders primarily divided into Crohn’s disease and ulcerative colitis. IBD occurs following an exaggerated immune response to normal stimuli such as food and intestinal flora in genetically susceptible individuals. The disease is affecting about 8 million people worldwide, with an estimated 24 million Americans having symptoms.
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