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Irish Biotech Inflazome Agrees to Roche Buyout
Monday 21 September 2020

Ireland-based biotechnology company Inflazome has closed a share purchase agreement with Swiss healthcare company Roche (SIX: RO) (OTCQX: RHHBY) in which Inflazome's shareholders received an upfront payment of EUR 380m (USD 447.22m), and are eligible to receive additional contingent payments to be made based on the achievement of certain predetermined milestones, the company said.

Inflazome was founded in 2016 by medical researchers Prof Matt Cooper (University of Queensland, Australia) and Prof Luke O'Neill (Trinity College Dublin, Ireland).

The company is in the development of inflammasome inhibitors.

The acquisition gives Roche full rights to Inflazome's entire portfolio which is composed of clinical and preclinical orally available small molecule NLRP3 inhibitors.

Roche intends to further develop NLRP3 inhibitors across a range of indications with high unmet medical need.

Lazard acted as financial advisor and Goodwin Procter and Byrne Wallace acted as legal counsel to Inflazome.

Inflazome is a biotech company leading the development of orally available drugs to address clinical unmet needs in inflammatory diseases by targeting inflammasomes.

Inflammasomes are understood to drive many chronic inflammatory conditions, from Parkinson's and Alzheimer's to asthma, inflammatory bowel disease, chronic kidney disease, cardiovascular disease, arthritis and NASH.

Inflazome has a portfolio of orally available small molecule NLRP3 inhibitors, with lead molecules having successfully completed Phase I clinical trials, as well as several high potential earlier-stage programmes.

Inflazome has raised EUR 55m in Venture Capital financing from leading investors Forbion, Longitude Capital, Fountain Healthcare Partners and Novartis Venture Fund.

Inflazome is headquartered in Dublin, Ireland.

Activated NLRP3 acts as a 'danger sensor' in the body to release the pro-inflammatory cytokines IL-1β, IL-18 and induce uncontrolled, lytic cell death (pyroptosis). These processes lead to chronic inflammation, and as such, NLRP3 has been implicated in a large number of diseases.
Date Published: 21/09/2020