This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Roche And Chiasma Announce Collaboration To Develop And Commercialize Chiasma's Octreolin® For Acromegaly And Neuroendocrine Tumors

BASEL, Switzerland, NEW YORK and JERUSALEM , Feb. 18, 2013 /PRNewswire/ -- Roche (SIX: RO, ROG; OTCQX: RHHBY) and Chiasma (pronounced key-az-ma) Inc., a privately held biopharma company, announced today that they have entered into an agreement to develop and commercialize Chiasma's proprietary product Octreolin, initially for acromegaly and subsequently for neuroendocrine tumors. Octreolin is an investigational oral form of the peptide octreotide, a somatostatin analog that is commercially available only by injection.  Octreolin is currently in a pivotal phase 3 clinical trial for acromegaly.

Under the terms of the agreement, Roche received a worldwide exclusive license to Octreolin, and will assume responsibility for the commercialization of Octreolin. Genentech will market the product in the United States after US FDA approval. Chiasma will continue development through completion of the pivotal phase 3 clinical trial for acromegaly. The arrangement includes an upfront payment to Chiasma of $65 million, future considerations of up to $530 million in development and commercial milestones, as well as tiered, double-digit royalties on Octreolin net sales.

Commenting on the deal, Fredric D. Price, Chiasma's Chairman and Chief Executive Officer said: "We are especially pleased to have entered into this agreement with Roche, an ideal collaboration partner that has the right development and commercial resources in the areas of endocrinology and oncology to support Octreolin."

Hal Barron, M.D., Roche Global Head of Product Development and Chief Medical Officer added: "If approved, Octreolin would be an important alternative for patients with acromegaly, a disorder that develops when a person's pituitary gland produces too much growth hormone. Octreolin is an investigational oral regimen that avoids the painful injections of current treatment options."

Evercore Partners served as Chiasma's financial advisor on the transaction, and Latham & Watkins LLP served as its legal counsel.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,947.95 -12.62 -0.07%
S&P 500 1,974.65 -3.69 -0.19%
NASDAQ 4,434.6430 -14.9210 -0.34%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs