Roche inks licensing pact with Ascidian for neurological diseases (OTCQX:RHHBY)

RNA medicine developer Ascidian Therapeutics announced a research and licensing agreement with Roche (OTCQX:RHHBY) (OTCQX:RHHBF) on Tuesday to develop treatments targeted at neurological diseases. As part of the deal, Roche (OTCQX:RHHBF) will receive exclusive rights to Ascidian’s RNA exon editing technology to target specific undisclosed neurological targets. The duo will jointly conduct certain preclinical activities before the Swiss pharma giant takes over the clinical development, manufacturing, and commercialization of drugs resulting from the collaboration. In exchange, Boston-based Ascidian will receive $42M upfront, up to $1.8B in research, clinical, and commercial milestone payments, and royalties on global commercial sales. The agreement will not preclude Ascidian from developing programs against other neurological targets in partnership with other parties or using its internal resources.