Roche Holdings AG announced that it will acquire Vienna, Austria-based Dutalys GmbH for a deal that could hit $489.0 million. Dutalys is a privately owned biotech company that specializes in research and development of fully human, bi-specific antibodies utilizing proprietary DutaMab technology. The bi-specific antibodies developed with this platform are designed to provide novel, best-in-class molecules for several therapeutic areas. This deal further highlights Roche’s leadership in the development of therapeutic antibodies.
“The platform developed by Dutalys is a breakthrough technology, and we are excited about integrating it within Roche,” said John C. Reed, Head of Pharma Research and Early Development. “It strengthens our R&D capabilities in delivering bi-specific antibodies, which have the potential to create transformational new medicines.”
“We are delighted to have found a partner who has the capability to fully leverage our technology for maximum patient benefit.” said Roland Beckmann, co-founder and CSO of Dutalys. “DutaMabs are suitable for the treatment of numerous disease mechanisms and therapeutic targets, and we are very much looking forward to developing diverse novel therapeutics within the Roche R&D team.”
Under the terms of the agreement, Roche will make an upfront cash payment of USD 133.75 million to shareholders and make additional contingent payments of up to USD 355 million based on the achievement of certain predetermined milestones.
About the DutaMab Platform
A conventional bi-specific monoclonal antibody is a biotechnologically engineered artificial protein that is composed of fragments of two different monoclonal antibodies and consequently can bind to two different antigens. The DutaMab technology platform differs by enabling the development of fully human bi-specific antibodies where each arm of the antibody shows high affinity and simultaneous binding against both targets, excellent stability, and good manufacturing properties. This enables the treatment of disease mechanisms that could not be addressed with conventional bi-specific antibodies.
Dutalys is a privately owned antibody technology company based in Vienna, Austria. Dutalys was founded in April 2010 and supported by Seed financing from aws (Austria Wirtschaftsservice / ERP-Funds), by research grants from FFG (the Austrian Research Promotion Agency) and ZIT (the Technology Agency of the City of Vienna), and by funding from INiTS (the Austrian Academic Business Incubator).