Genentech, a U.S.-based drug maker unit of Swiss pharmaceutical company Roche, to spend 88 million euros ($100 million) in co-developing an anticancer bispecific antibody with UK-based biotechnology company Immunocore.
With upfront and near-term milestone payments, the deal gives the Genentech a partial stake in the preclinical Melanoma-associated antigen 4 targeting drug IMC-C103C.
Genentech showed an interest in the concept in 2013 when it struck a discovery-stage pact worth $10 million to $20 million upfront per target, plus many times as much in milestones.
The company has now tightened its ties to Immunocore with a deal covering a drug that is set to enter the clinic next year.