Roche’s Genentech unit licenses NovImmune antibody

Roche Holding AG’s Genentech unit agreed to buy rights to an experimental medicine being developed by NovImmune SA, a closely held Swiss biotechnology company. Genentech is gaining an early-stage compound, a so-called anti-IL-17 fully human monoclonal antibody, that may be developed to treat inflammatory and auto-immune diseases, Geneva-based NovImmune said today in an e-mailed statement. The company didn’t provide financial details of the accord.

NovImmune has developed its own technology to make monoclonal antibodies, which are bioengineered molecules that mimic the action of the body’s own response to infections. The company’s decision four years ago to create its own drug- development platform has made it less reliant on the technology it licensed from Medarex Inc. and Cambridge Antibody Technology Group Plc, both of which have been acquired. NovImmune last year bought back rights to two of its compounds from Merck KGaA’s Serono unit after raising 62.5m Swiss francs ($59.2m) from investors. “Genentech brings an in-depth understanding of IL-17 biology and extensive experience in its ability to potentially identify patient populations that may benefit,” NovImmune Chief Executive Officer Jack Barbut said in the statement. The biotechnology company will get an upfront payment from Genentech and may also receive milestone and royalty payments for the anti-IL-17 antibody, which has yet to be tested in people, as well as additional back-up compounds.