Flare Therapeutics Announces Strategic Discovery Collaboration with Roche to Address Previously Undrugged Transcription Factor Targets in Oncology

Rhea-AI Summary

Flare Therapeutics and Roche have announced a strategic discovery collaboration focusing on transcription factor targets in oncology. The partnership leverages Flare's proteomic and mass spectrometry platform to discover novel small molecule drugs. Flare will receive US$70 million upfront, with potential milestone payments exceeding US$1.8 billion plus royalties. Flare will lead discovery and preclinical activities, while Roche will handle further development and commercialization. Flare retains rights to co-fund development for one target in exchange for increased US royalties, and maintains ownership of its existing pipeline, including FX-909 for urothelial cancer.

Positive

• Substantial upfront payment of US$70 million
• Potential milestone payments exceeding US$1.8 billion plus royalties
• Strategic partnership with major pharmaceutical company Roche
• Retention of rights to existing pipeline and co-funding option
• Access to Roche's global development and commercialization capabilities

Negative

• Development risks transferred to Roche except for co-funded target
• control over development and commercialization decisions

Collaboration will leverage Flare Therapeutics' proteomic and mass spectrometry platform and expertise, powered by its proprietary library of electrophilic compounds, to discover novel small molecules aimed at transcription factor targets in oncology

Flare Therapeutics to receive US$70 million upfront, and potential milestone payments exceeding US$1.8 billion, as well as royalties

CAMBRIDGE, Mass., Nov. 12, 2024 /PRNewswire/ -- Flare Therapeutics Inc., a clinical-stage biotechnology company targeting transcription factors to discover precision medicines for oncology and other therapeutic areas, today announced it has entered into a strategic discovery collaboration with Roche (SIX: RO, ROG; OTCQX: RHHBY). This partnership will leverage Flare Therapeutics' proteomic and mass spectrometry platform and expertise, powered by its proprietary library of electrophilic compounds, to discover novel small molecule drugs aimed at previously undrugged transcription factor targets in oncology.

"Roche is an ideal partner for Flare Therapeutics because we share a commitment to tackling the most challenging disease areas with novel approaches and overcoming the difficulties of drugging transcription factors. Our platform and expertise have rapidly generated a clinical-stage pipeline, demonstrating the strong potential of our approach. This collaboration will accelerate the expansion of our capabilities, enabling us to develop treatments for transcription factors implicated in indications with high unmet needs. Together with Roche's expertise, our objective is to successfully pursue challenging transcription factor targets, with the ultimate goal of providing novel interventions for patients who are not currently served by standard-of-care therapies," said Rob Sims, Ph.D., Chief Scientific Officer and Co-founder of Flare Therapeutics.

"We are excited to join forces with Flare Therapeutics, combining our leading expertise and global reach in oncology with Flare Therapeutics' deep knowledge in drug discovery for difficult-to-drug transcription factor targets. Transcription factors play a crucial role in various oncological diseases and have the potential to address high unmet medical needs. We are looking forward to developing therapeutic options never possible before," said Boris L. Zaïtra, Head of Roche Corporate Business Development.

As part of the collaboration, Flare Therapeutics will receive a US$70 million upfront cash payment and is eligible to receive discovery, development, and commercialization milestone payments potentially exceeding US$1.8 billion and royalties. Flare Therapeutics will lead discovery and preclinical activities targeting multiple transcription factor targets in oncology, while Roche will pursue the further preclinical and clinical development and commercialization of potential products from the collaboration, leveraging its industry-leading capabilities in oncology.

Additionally, Flare Therapeutics retains a right to co-fund development for one target under the collaboration in exchange for increased royalties in the United States for this target. Flare Therapeutics will retain ownership of its existing pipeline, including its lead clinical-stage program, FX-909, in advanced urothelial cancer, its prostate cancer program entering IND-enabling studies, and other programs in discovery and early development in oncology and other therapeutic areas.

About Flare Therapeutics Inc.
Flare Therapeutics is a biotechnology company exclusively focused on drugging transcription factors to fully unlock the therapeutic potential of this previously elusive target class. Flare Therapeutics' integrated discovery engine converges rich genetic, biochemical, and chemical insights to reveal druggable pockets and identify small molecule ligands capable of modulating transcription factors of high therapeutic potential. Flare Therapeutics' proteomic and mass spectrometry platform is powered by a proprietary library of electrophilic compounds unique to Flare Therapeutics. Since its inception, Flare Therapeutics has rapidly established an emerging pipeline of programs, highlighted by FX-909, a first-in-class investigational orally bioavailable small molecule inhibitor of PPARG, a master regulator of the luminal lineage in advanced urothelial cancer that is currently in a Phase I study. Additionally, Flare Therapeutics has advanced a second program with a differentiated mechanism for prostate cancer entering the Investigational New Drug (IND)-enabling stage, along with an earlier-stage portfolio targeting transcription factors involved in oncology and other therapeutic areas. For more information, please visit www.flaretx.com and follow us on LinkedIn.

Investors:
investorrelations@flaretx.com 

Media:
Peg Rusconi
peg.rusconi@deerfieldgroup.com
Deerfield Group

View original content to download multimedia:https://www.prnewswire.com/news-releases/flare-therapeutics-announces-strategic-discovery-collaboration-with-roche-to-address-previously-undrugged-transcription-factor-targets-in-oncology-302301901.html

SOURCE Flare Therapeutics

FAQ

What is the value of the Flare Therapeutics and Roche (RHHBY) collaboration deal?

The deal includes a US$70 million upfront payment and potential milestone payments exceeding US$1.8 billion, plus royalties.

What is the focus of the Flare Therapeutics and Roche (RHHBY) collaboration?

The collaboration focuses on discovering novel small molecule drugs targeting transcription factors in oncology using Flare's proteomic and mass spectrometry platform.

What rights does Flare Therapeutics retain in the Roche (RHHBY) collaboration?

Flare retains ownership of its existing pipeline and has the right to co-fund development for one target in exchange for increased US royalties.