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Convelo Therapeutics Enters into Collaboration and Option to Acquire Agreement with Genentech
Thursday 18 July 2019

18 July 2019 - US-based biotechnology company Convelo Therapeutics, Inc has entered into an exclusive worldwide collaboration with Genentech, a member of Switzerland's Roche Group, to accelerate discovery and development of novel remyelinating medicines for patients with neurological disorders such as multiple sclerosis, the company said.
The collaboration will build on the remyelinating targets and proprietary screening platform developed by Convelo's scientific founders Drs Paul Tesar and Drew Adams.
Convelo and Genentech will collaborate to discover novel remyelination therapies for MS and other myelin disorders. Convelo will receive an undisclosed upfront payment and research support from Genentech.
Genentech retains an exclusive option to acquire all outstanding stock of Convelo for an additional undisclosed payment and downstream milestones.
Convelo Therapeutics is discovering a new class of medicines to unlock the regenerative capacity of the central nervous system.
The company has identified key biological targets and novel chemical matter to modulate these enzymes to provide meaningful solutions for patients and their families.
Date Published: 18/07/2019
Target: Convelo Therapeutics
Country: USA
Sector: Biotechnology
Type: Corporate acquisition
Status: Talks
Buyer: Genentech
Terms of the deal were not disclosed