China-headquartered Regor Pharmaceuticals has entered into a definitive purchase agreement whereby Genentech, a member of the Roche Group, will acquire a portfolio of next-generation CDK inhibitors from Regor for the treatment of breast cancer.

Under the terms of the agreement, Regor will receive an upfront cash payment of $850 M and is eligible to receive additional cash payments based on the achievement of certain predetermined development, regulatory and commercial milestones.

Genentech will be responsible for clinical development, manufacturing and commercialisation worldwide. Regor will continue to manage the two ongoing Phase 1 trials to their completion. Regor will also advance its other distinct assets, unrelated to this deal, in oncology, metabolic diseases and auto-immunity.

"Genentech is well-positioned to bring these novel therapeutics to their full potential to benefit patients with breast cancer around the world," said Xiayang Qiu, Ph.D., founder and CEO of Regor.

The proposed transaction is expected to close in the fourth quarter of 2024. The closing of the proposed transaction is subject to the satisfaction of customary closing conditions.