Roche, Amira Pharmaceuticals Collaborate

Roche and Amira Pharmaceuticals have entered into a collaboration consisting of a research alliance and an option for Amira to license two clinical stage compounds from Roche. Under the research collaboration, Roche will use its screening capabilities to investigate three mutually agreed targets in the field of inflammatory diseases. Amira will then utilize its expertise to optimize the lead compounds generated. Roche will have opt-in rights on two of those compounds.

Under a separate licensing option agreement, Amira may license two pre-determined clinical programs from Roche in specific indications in exchange for equity, milestones and royalties.

Roche will screen its compound repository against three targets and will transfer any hits to Amira. If Roche exercises its opt-in rights, Amira could receive as much as $287 million in total event payments, plus royalties. Should Amira exercise its option to license two of Roche’s existing clinical stage programs, Roche may receive a significant percentage of Amira’s stock. Additionally, if these two programs meet all development events, Roche could receive as much as $20 million, in addition to royalties.