"Today there are many disease targets that are very challenging or even impossible to reach with small molecules or antibodies," said John C. Reed, Head of Roche Pharma Research and Early Development. "We believe the LNA platform provides the means to efficiently discover and develop an important new class of medicines that may address the significant needs of patients across multiple therapeutic areas."
"Roche and Santaris Pharma have complementary capabilities that will help us realize breakthrough medicines," stated J. Donald deBethizy, President and CEO of Santaris Pharma. "The acquisition combines Santaris Pharma's next-generation antisense technology and LNA expertise with Roche's deep experience in disease biology, chemistry, drug safety, drug formulation, delivery, and development."
The acquisition, which is subject to customary closing conditions, is expected to close in August 2014. Roche plans to maintain Santaris Pharma's operations in Denmark, where the existing site will be renamed Roche Innovation Center Copenhagen. Under the terms of the agreement, Roche will make an upfront cash payment of USD 250 million to Santaris Pharma shareholders and make additional contingent payments of up to USD 200 million based on the achievement of certain predetermined milestones.
About the Locked Nucleic Acid (LNA) Platform
Santaris Pharma's LNA platform and drug discovery engine combines the company's proprietary LNA chemistry with its highly specialized and targeted drug discovery capabilities to rapidly deliver drug candidates against both mRNA and microRNA, thus enabling scientists to develop drug candidates for diseases that are difficult, or impossible, to target with contemporary drug platforms such as antibodies and small molecules. The LNA platform is designed to overcome the limitations of earlier antisense and siRNA technologies, in particular through a unique combination of small size, high binding affinity and metabolic stability that allows this new class of drugs candidates to potently and specifically influence RNA targets in many different tissues without the need for complex delivery vehicles. LNA is also sometimes referred to as BNA (Bicyclic or Bridged Nucleic Acid).
About Santaris Pharma A/S
Santaris Pharma A/S uses its proprietary Locked Nucleic Acid (LNA) platform and tissue-targeting expertise to pioneer next-generation antisense product candidates. Santaris Pharma is developing a diverse pipeline of LNA therapeutics that influence the production or activity of select RNA targets to address diseases that are difficult-to-treat with conventional drug modalities. Santaris Pharma’s innovation and leadership position has attracted multiple collaborations with leading global pharmaceutical companies. Founded in 2003, Santaris Pharma is headquartered in Denmark.
Headquartered in Basel, Switzerland, Roche is a leader in research-focused healthcare with combined strengths in pharmaceuticals and diagnostics. Roche is the world's largest biotech company, with truly differentiated medicines in oncology, immunology, infectious diseases, ophthalmology and neuroscience. Roche is also the world leader in in vitro diagnostics and tissue-based cancer diagnostics, and a frontrunner in diabetes management. Roche’s personalised healthcare strategy aims at providing medicines and diagnostics that enable tangible improvements in the health, quality of life and survival of patients. Founded in 1896, Roche has been making important contributions to global health for more than a century. Twenty-four medicines developed by Roche are included in the World Health Organisation Model Lists of Essential Medicines, among them life-saving antibiotics, antimalarials and chemotherapy.
In 2013 the Roche Group employed over 85,000 people worldwide, invested 8.7 billion Swiss francs in R&D and posted sales of 46.8 billion Swiss francs. Genentech, in the United States, is wholly owned member of the Roche Group. Roche is the majority shareholder in Chugai Pharmaceutical, Japan.