Roche paid an upfront payment of €380m to the Inflazome shareholders, and are also eligible to receive additional milestone-based payments
Swiss drugmaker Roche has completed a share purchase agreement to acquire Irish biotech company Inflazome, for an upfront payment of €380m.
Under the terms of the agreement, the shareholders of Inflazome are also eligible to receive additional contingent payments, based on reaching of certain pre-set milestones.
Inflazome chairman and co-founding investor Manus Rogan said: “It has been a privilege to work alongside Matt, his team and my co-investors.
“The company, which was established just four years ago, developed a portfolio of clinical and pre-clinical molecules with a lean, highly experienced team and limited invested capital.”
Established in 2016, Inflazome is a biotech company engaged in the development of inflammasome inhibitors, the oral drugs that target inflammasomes.
Inflammasomes are said to drive several chronic inflammatory conditions, including Parkinson’s and Alzheimer’s, asthma, inflammatory bowel disease, chronic kidney disease, cardiovascular disease, arthritis and NASH.
Inflazome has a portfolio of orally available small molecule NLRP3 inhibitors
The company has a portfolio of orally available small molecule NLRP3 inhibitors under development, with lead molecules being completed Phase 1 trials, along with various earlier-stage programmes.
Through the transaction, Roche gets full rights to Inflazome’s complete portfolio of clinical and preclinical orally available small molecule NLRP3 inhibitors.
The Swiss pharmaceutical company is planning to further develop the pipeline of NLRP3 inhibitors across a broad range of indications to address unmet medical needs.
For the transaction, Lazard served as a financial advisor and Goodwin Procter and Byrne Wallace as legal counsel to Inflazome.
Inflazome chief executive officer Matt Cooper said: “We are delighted to close this deal with Roche, an outstanding pharmaceutical company with a broad commitment to multiple indications.
“With Inflazome now part of the Roche organisation, Inflazome’s pioneering molecules are well-positioned to be developed quickly and effectively so they can help patients suffering from debilitating diseases.”