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Roche Gains Access to Important Oncology Target With Potential for Treating Major Cancers Such as Breast and Lung; First Drug Candidate in Phase I Clinical Testing
Date:4/15/2008

lue of our pipeline and is a testament to the quality of the science developed by our team. With Roche's undisputed excellence in oncology and inflammatory disease, Piramed has found a secure long term home for some world class science."

Terms of the agreement

Under the terms of the agreement, Roche will acquire 100% of Piramed's shares for USD 160 million, plus a milestone payment of USD 15 million, which is due upon the commencement of phase II clinical trials for the company's oncology program. The final transaction value will be adjusted by the net cash balance remaining upon closing. Closing of the transaction is subject to standard conditions including review by anti-trust authorities. Completion is expected during the second quarter of 2008.

About the PI3K programmes

PI 3-kinases are implicated in both cancer and immune inflammatory disease. In cancer, up-regulation of the PI 3-K pathway is a very common characteristic and several components of the pathway are implicated in the development of cancer. In addition, persistent signaling through the PI 3-K pathway has been shown to be a major mechanism of resistance to potential chemotherapeutic agents targeting the epidermal growth factor receptor. Pre- clinical data clearly point to the potential widespread anti-cancer utility of agents that inhibit the pathway at the level of PI3-K, particularly the alpha isoform. Such agents are expected to inhibit proliferation and overcome resistance to cytotoxic agents in cancer cells.

The delta isoform of PI3-K is strongly implicated in immune inflammatory disease, primarily through the acquired immune system. Inhibitors of PI3-K delta down-regulate certain functions of B and T cells, mast cells and neutrophils and have demonstrated significant activity in various experimental models of human immune inflammatory disorders. These data indicate a potential for broad clinical utility as new therapeutic agents in this diverse disease area. <
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SOURCE Roche
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