Quick Facts
FONT-SIZE Plus   Neg
Share SHARE
mail  E-MAIL

Roche, PTC Sign Deal To Advance Treatment For Spinal Muscular Atrophy

11/29/2011 8:13 AM ET

Roche Holding AG (RHHBY.PK), PTC Therapeutics, Inc. and the SMA Foundation, announced a licensing agreement for PTC's Spinal Muscular Atrophy, or SMA, programme. SMA is a genetic neuromuscular disorder that causes muscle weakness.

As per the terms of the agreement, Roche gains an exclusive worldwide license to PTC's SMA programme, which includes three compounds currently in preclinical development, as well as potential back-up compounds. PTC receives $30 million as an upfront payment, up to $460 million upon successful completion of certain development and commercialization milestones and up to double-digit royalties on commercial sales. PTC noted that development will be overseen by a joint steering committee comprised of members from Roche, PTC and the SMA Foundation.

Click here to receive FREE breaking news email alerts for Roche Holding AG and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
The Reserve Bank of New Zealand on Thursday raised its Official Cash Rate by 25 basis points, to 3.00 percent from 2.75 percent. The decision was in line with expectations, and it marks the second straight month with a rate hike following 24 straight meetings in which the rate was not changed. New Zealand's economic expansion has considerable momentum, with GDP estimated to have grown by 3.5 percent in the year to March. Apple Inc. said Wednesday after the markets closed that its second quarter profit rose 7% from last year, as sales surged and margins improved amid strong sales of its iPhones. The company's quarterly earnings per share also came in above analysts' expectations as did its quarterly revenue. At the same time, the company gave a slightly downbeat revenue forecast for the current quarter. Stocks moved mostly lower during trading on Wednesday, giving back some ground after trending higher over the past several sessions. Selling pressure was relatively subdued, however, limiting the downside for the markets. The major averages all closed in the red, although the tech-heavy Nasdaq underperformed its counterparts by a wide margin.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.