Singapore: Roche has announced that it has agreed to acquire Austria-based Dutalys GmbH, a privately held biotechnology company. Dutalys specializes in the discovery and development of fully human, bi-specific antibodies based on their 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.

Under the terms of the agreement, Roche will make an upfront cash payment of $133.75 million to shareholders and make additional contingent payments of up to $355 million based on the achievement of certain predetermined milestones.

"The platform developed by Dutalys is a breakthrough technology, and we are excited about integrating it within Roche. It strengthens our R&D capabilities in delivering bi-specific antibodies, which have the potential to create transformational new medicines,"said Mr John C Reed, head of pharma research and early development, Roche.

"We are delighted to have found a partner who has the capability to fully leverage our technology for maximum patient benefit. 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," said Mr Roland Beckmann, co-founder and CSO of Dutalys.