Roche has agreed to acquire Trophos, a privately held biotechnology company based in Marseille, France. Trophos’s screening platform generated olesoxime (TRO19622), which is being developed for spinal muscular atrophy (SMA), a rare and debilitating genetic neuromuscular disease that is most commonly diagnosed in children.
According to a press release, results from a pivotal phase II clinical trial with olesoxime in SMA showed a beneficial effect on the maintenance of neuromuscular function in individuals with Type II and non-ambulatory Type III SMA, as well as a reduction in medical complications associated with the disease. These data were first presented in April 2014 at the annual meeting of the American Academy of Neurology (AAN).
“This acquisition highlights Roche’s commitment to developing medicines for spinal muscular atrophy, a serious disease with no effective treatment,” said Sandra Horning, M.D., Chief Medical Officer and Head of Global Product Development at Roche. “We will build on the work done by Trophos and the French Muscular Dystrophy Association to advance the development of olesoxime and to bring it to people who live with this devastating condition as quickly as possible.”
Under the terms of the agreement, Trophos’s shareholders will receive an upfront cash payment of EUR 120 million, plus additional contingent payments of up to EUR 350 million based on achievement of certain predetermined milestones.
“SMA is a grievous disease with a huge impact on the daily life of patients and their families, who are currently left only with supportive care. We are proud to see the development of this medicine evolving, with the ultimate goal of a potential first medicine for SMA,” said Christine Placet, CEO of Trophos.
The transaction is anticipated to close in the first quarter of 2015. Read the full release