Biotie and Roche conclude research and option agreement for SSAO inhibitors
Biotie announced that its research and option agreement with Roche for the development of small molecule inhibitors of SSAO (semicarbazide-sensitive amine oxidase) has been terminated by mutual agreement.
Timo Veromaa, Chief Executive Officer of Biotie commented, "We have made significant progress in the SSAO inhibitor program but given the announced change in our business strategy to focus our efforts on programs in clinical development stage we will now seek alternative ways to monetize this asset, such as sale or technology transfer agreement.
Biotie's option agreement with Seikagaku Corporation regarding the SSAO inhibitor program for Japan, Taiwan, Singapore, Australia and New Zealand remains in force. Biotie could receive up to $16.7 MM from a license agreement and would be eligible for royalties on future sales in the territory if Seikagaku exercises its option.
SSAO is a novel drug target with potential in a range of inflammatory and metabolic diseases. Inhibition of SSAO has been shown to have a beneficial impact in a number of pre-clinical disease models. The agreement between Biotie and Roche, which started in 2004 as a research collaboration and option agreement, has yielded several promising compounds that would be ready for preclinical development.
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