Roche to acquire Santaris Pharma
This new class of medicines has the potential to address difficult to treat diseases in a range of therapeutic areas.
“Today there are many disease targets that are very challenging or even impossible to reach with small molecules or antibodies,” said John C. Reed, Head of Roche Pharma Research and Early Development.
“Roche and Santaris Pharma have complementary capabilities that will help us realize breakthrough medicines,” stated J. Donald deBethizy, President and CEO of Santaris Pharma.
The acquisition, which is subject to customary closing conditions, is expected to close in August 2014. Roche plans to maintain Santaris Pharma’s operations in Denmark, where the existing site will be renamed Roche Innovation Center Copenhagen. Under the terms of the agreement, Roche will make an upfront cash payment of USD 250 million to Santaris Pharma shareholders and make additional contingent payments of up to $200 million based on the achievement of certain predetermined milestones. ■