By Mary de Wet

 

Lineage Cell Therapeutics Inc. shares rose 12% to $2.37 in premarket trade Monday after the company said it has a collaboration and license agreement with Roche and Genentech, a member of the Roche Group, to develop and commercialize a retinal pigment epithelium cell therapy to treat eye disorders.

Genentech will assume responsibility for further clinical development and commercialization of Lineage's OpRegen program, which is being evaluated in a Phase 1/2a dose escalation safety and efficacy study in patients with advanced dry age-related macular degeneration with geographic atrophy.

Under the terms of the agreement, Lineage will complete activities related to the clinical study and perform certain manufacturing activities. Genentech will pay Lineage a $50 million upfront payment and Lineage is eligible to receive up to $620 million in additional development, approval and sales milestone payments, in addition to tiered double- digit royalties.

 

Write to Mary de Wet at mary.dewet@dowjones.com

 

(END) Dow Jones Newswires

December 20, 2021 06:36 ET (11:36 GMT)

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