This week's post will in part take the form of an excerpt of a recent press release announcing an exciting new partnership with Roche, on one of AmorChem's portfolio projects.
Roche and AmorChem announce alliance focused on myotonic muscular dystrophy 1
Roche (SIX: RO, ROG; OTCQX: RHHBY) and AmorChem L.P., a Montreal-based venture capital firm investing in life science projects, today announced they have entered into a collaboration to discover novel small molecule disease-modifying therapy for the treatment of myotonic muscular dystrophy 1, or Steinert’s disease. Myotonic dystrophy is a progressive degenerative disease that affects an estimated 130,000 people in US, EU and Japan. There is currently no approved treatment available to slow or stop disease progression.
The collaboration will focus on the development of novel small molecules capable of correcting the consequences of the splicing deficit caused by the myotonic dystrophy 1 gene mutation. Through this approach, some of the molecular alterations caused by the disease process may be corrected and the progression of disease may be curtailed. The enabling technology was developed by Dr. Pascal Chartrand, a principal investigator at University of Montreal, and licensed to AmorChem by the University’s technology transfer group. Discovery will take place at AmorChem’s medicinal chemistry incubator, NuChem Therapeutics, and in Dr. Chartrand’s laboratory. Roche will provide scientific support and will contribute R&D funding together with AmorChem.
“By targeting the molecular consequences of the genetic mutation that causes myotonic dystrophy, we aim to slow down or stop the progression of this currently untreatable, chronic and slowly progressing muscle-wasting disease,” said Luca Santarelli, Global Head of Neuroscience, Ophthalmology and Rare Diseases at Roche Pharma Research and Early Development. “The partnership with AmorChem fits well into our discovery externalization strategy, which aims to leverage external scientific excellence and experienced entrepreneurs to complement our internal portfolio of innovative drug programs.”
Under the terms of the agreement, Roche will have the option to acquire an exclusive, worldwide license at the end of the collaboration. AmorChem may earn up to $107 million in total, based on developmental and commercial milestones, and single-digit royalties.
Naturally, the team is delighted to commence this alliance with Roche to proceed this project further into development, but additionally, it is felt that this transaction underlines that the fundamental principle of this fund has been validated, i.e. that one can create significant added value to early stage projects incubated in university labs and develop them to a level that is of sufficient interest to bring pharmaceutical companies to the table. This deal with Roche certainly delivers on that proposition and emphasizes the value being created via AmorChem's investments in innovative technologies discovered in Quebec-based universities and research centres.
The group is optimistic that this collaboration with Roche is likely to be followed by other similar transactions, not least given the interest that certain projects have already attracted from potential pharma partners. At this point there are around 20 projects in the AmorChem portfolio which can be perused on the website for general information, and it is anticipated that more will be added in the near term particularly in light of the many interesting submissions received for the upcoming KNOCK-OUT event, to be held in Quebec city on October 8, 2014.
Perhaps one of the most satisfying aspects of this deal with Roche is that it underscores the fact that notwithstanding the province-wide biotech meltdown that essentially became a graveyard for the five years since 2008, innovation is alive and well in Quebec, and is ready to be captured. Rather than letting the absence of a vibrant biotech hub become a reason to do purely academic research, I feel that scientific entrepreneurship has lived on and Quebec remains an inventive and innovative source of cutting-edge life science technologies - AmorChem's growing portfolio is indeed testament to that fact!
Perhaps one of the most satisfying aspects of this deal with Roche is that it underscores the fact that notwithstanding the province-wide biotech meltdown that essentially became a graveyard for the five years since 2008, innovation is alive and well in Quebec, and is ready to be captured. Rather than letting the absence of a vibrant biotech hub become a reason to do purely academic research, I feel that scientific entrepreneurship has lived on and Quebec remains an inventive and innovative source of cutting-edge life science technologies - AmorChem's growing portfolio is indeed testament to that fact!
Who knows what the future holds, and it is not clear as yet whether a new wave of biotech activity will sweep into and over the province, or whether novel investment models (such as AmorChem) become the major mechanism by which fundamental life science research gets transitioned into development and shuttled towards the marketplace. It's a period of rebirth in the province and there is renewed optimism that things are going to grow rapidly in the coming few years, and I sure am excited to be a part of that.
Only time will tell what shape or form any new Quebec life science/biotech cluster will take, but things are moving in a positive direction and that can only be a good thing. The infrastructure is already in place; there simply needs to be a continued desire to invest in (even early stage) life science research that shows solid potential, and things will begin to fall into place. AmorChem makes a major contribution in that regard, and the team hopes to be in a position to further consolidate the progress made to date via many more investments in the coming years.
In the meantime, people certainly have a spring in their step in the AmorChem premises at the moment - who says that nothing ever happens during the summer time?!
Only time will tell what shape or form any new Quebec life science/biotech cluster will take, but things are moving in a positive direction and that can only be a good thing. The infrastructure is already in place; there simply needs to be a continued desire to invest in (even early stage) life science research that shows solid potential, and things will begin to fall into place. AmorChem makes a major contribution in that regard, and the team hopes to be in a position to further consolidate the progress made to date via many more investments in the coming years.
In the meantime, people certainly have a spring in their step in the AmorChem premises at the moment - who says that nothing ever happens during the summer time?!
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