08.08.13
PTC Therapeutics, Inc. has selected a development candidate in its spinal muscular atrophy (SMA) collaboration with Roche and the SMA Foundation, triggering a $10 million payment to PTC from Roche. The SMA program, initially developed by PTC Therapeutics and the SMA Foundation, was licensed to Roche in November 2011. PTC received $30 million upfront, is entitled to $10 million for the selection of a development candidate, and may receive as much as an additional $450 million upon successful development and commercialization, as well as royalties on worldwide sales.
"We are excited about this important achievement in our SMA program,” said Stuart Peltz, Ph.D., chief executive officer of PTC Therapeutics. "This program exemplifies PTC's technology platform and its chemistry and biology expertise applied in an area of great unmet medical need. We are grateful for the exceptional commitment and dedication from our PTC team, as well as from our partners, Roche and the SMA Foundation. The discovery and advancement of a potential new treatment for SMA is a significant milestone for SMA patients and their families."
Luca Santarelli, head of Neuroscience and Small Molecule Research at Roche, said, "The compelling science behind this project and the highly synergistic alliance between Roche, PTC Therapeutics and the SMA Foundation are the groundwork for this potential therapeutic program. We consider every step towards a treatment option in SMA of high importance for patients and families affected by this devastating and currently incurable condition."
"We are excited about this important achievement in our SMA program,” said Stuart Peltz, Ph.D., chief executive officer of PTC Therapeutics. "This program exemplifies PTC's technology platform and its chemistry and biology expertise applied in an area of great unmet medical need. We are grateful for the exceptional commitment and dedication from our PTC team, as well as from our partners, Roche and the SMA Foundation. The discovery and advancement of a potential new treatment for SMA is a significant milestone for SMA patients and their families."
Luca Santarelli, head of Neuroscience and Small Molecule Research at Roche, said, "The compelling science behind this project and the highly synergistic alliance between Roche, PTC Therapeutics and the SMA Foundation are the groundwork for this potential therapeutic program. We consider every step towards a treatment option in SMA of high importance for patients and families affected by this devastating and currently incurable condition."