Lineage Cell Therapeutics Shares Rise 12% After Collaboration with Roche, Genentech
December 20 2021 - 6:51AM
Dow Jones News
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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