IP Group Investee Microbiotica Enters Potential $534 Million Deal with Roche
06 June 2018 - 7:15PM
Dow Jones News
By Adam Clark
IP Group PLC (IPO.LN) said on Wednesday that its investment
company Microbiotica Ltd. has entered a strategic collaboration
with Roche Holding AG's (ROG.EB) Genentech, in a deal worth up to
$534 million.
IP Group holds a 33% beneficial stake in Microbiotica. IP said
Microbiotica will use its microbiome platform to analyze patient
samples from Genentech's clinical trials of inflammatory bowel
disease treatments.
Microbiotica will receive an undisclosed upfront payment,
milestone payments, and is eligible to receive royalties on certain
product sales, said IP Group.
At 0839 GMT, shares in IP Group were up 4.20 pence, or 3%, at
142.80 pence.
Write to Adam Clark at adam.clark@dowjones.com;
@AdamDowJones
(END) Dow Jones Newswires
June 06, 2018 05:00 ET (09:00 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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