Perth, Australia-based company will receive an upfront payment of US$500,000
Phylogica, an Australian peptide drug discovery company, has extended its collaboration with Genentech, the biotechnology division of Roche Group, by entering into a research and licensing agreement to discover novel antibiotics.
Under the terms of the agreement, Perth-based Phylogica will receive an upfront payment of US$500,000. In addition, the company is eligible to receive research, development, and commercialisation milestone payments totalling up to US$142m.
The companies signed their first research agreement in August 2014.
Phylogica will use its Phylome drug discovery platform, including its proprietary cell penetrating peptide discovery technology to identify Phylomer peptides suitable for further evaluation.
Phylogica’s CEO Dr Richard Hopkins said: 'We are delighted to continue building upon on the success of our initial collaboration with Genentech. This alliance has the potential to address an unmet need for novel antimicrobials to treat bacterial infections, including drug-resistant superbugs.'