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The Irish biotechnology company Inflazome has been acquired by the Swiss multinational health company Roche for 380 million euros, one of the most important operations in the history of Irish biotechnology.
Under the terms of the agreement, Inflazome shareholders will receive an initial payment of 380 million euros.
They are also eligible to receive additional contingent payments that will be made based on the achievement of certain predetermined milestones.
Dublin-based Inflazome was founded in 2016 by Professor Luke O’Neill of Trinity College Dublin and Professor Matt Cooper of the University of Queensland in Australia.
The company develops orally available drugs to address clinical needs in inflammatory diseases by targeting inflammasomes.
Inflammasomes are known to cause many chronic inflammatory conditions, from Parkinson’s and Alzheimer’s to asthma, inflammatory bowel disease, chronic kidney disease, cardiovascular disease, and arthritis.
Today’s agreement gives Roche full rights to the entire Inflazome portfolio, which is comprised of pre-clinical, clinical and orally available small molecule NLRP3 inhibitors.
Roche said it intends to develop more NLRP3 inhibitors in a wide variety of indications with a great unmet medical need.
Matt Cooper, CEO of Inflazome, said the company was delighted to close this deal with Roche, which it called a leading pharmaceutical company with a broad commitment to multiple indications.
“With Inflazome now part of the Roche organization, Inflazome’s pioneering molecules are well positioned to be developed quickly and effectively so that they can help patients suffering from debilitating diseases,” he added.
Trinity College Dublin Chancellor Dr. Patrick Prendergast said today’s agreement is “wonderful news” for the many people around the world with diseases like Parkinson’s who can benefit from these discoveries.
“It is also a boost for the Irish scientific community and for Trinity College Dublin, where the ideas that led to the collaboration with UQ and the subsequent founding of Inflazome originated,” said Dr Prendergast.
“Researcher-led research drives the innovation economy, and this news provides tangible evidence of its importance and what can be achieved through partnership. We congratulate all involved researchers for their tireless commitment to discovery and innovation. innovation and for making a real difference in society, “he added.
UQ Vice Chancellor and President Professor Deborah Terry AO also welcomed the acquisition and congratulated those involved.
“Now more than ever, the value of translating research to support our economies’ recovery cannot be understated. This agreement reinforces the importance of research collaboration and shows what can be achieved through commercialization.” added the professor.
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