Trophos's shareholders will receive an upfront cash payment of $138 million
Roche has announced that it has agreed to acquire Trophos, a biotechnology company. Trophos's proprietary 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. 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 disease.
"This acquisition highlights Roche's commitment to developing medicines for SMA , a serious disease with no effective treatment. 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," said Dr Sandra Horning, chief medical officer and head of Global Product Development at Roche.
Under the terms of the agreement, Trophos's shareholders will receive an upfront cash payment of $138 million (EUR 120 million), plus additional contingent payments of up to $404 million (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. This is a tremendous recognition of the work done by Trophos's teams and supporters over the past 16 years," said Ms Christine Placet, CEO, Trophos.