Roche to acquire biotechnology company, Adheron Therapeutics

Adheron Therapeutics, a privately held biotechnology company based in Berkeley, California, United States, announced today that it has agreed to be acquired by Roche. Adheron Therapeutics has developed a pioneering technology that disrupts immune cell adhesion through a cell surface protein called Cadherin-11 in order to develop potential treatments for a variety of inflammatory and autoimmune diseases such as rheumatoid arthritis and fibrotic diseases. The lead asset, SDP051, a humanized monoclonal antibody targeting Cadherin-11, has completed Phase 1 of clinical development.

"We are very excited about this acquisition, as it is an important step towards the development of breakthrough medicines in the area of inflammation and fibrosis," said Hari Kumar, Chief Executive Officer of Adheron Therapeutics. "This deal brings together Adheron's deep understanding of the underlying science of Cadherin-11 with Roche's vast experience in researching and developing next generation medicines. We are proud to move our promising investigational medicine to the next level and into a new home at Roche."

Under the terms of the agreement, Adheron's shareholders will receive an upfront cash payment of USD 105 million, plus additional contingent payments of up to USD 475 million based on achievement of certain predetermined milestones. The transaction is subject to customary closing conditions and anticipated to close shortly.