Parvus Therapeutics Enters into Worldwide Collaboration and License Agreement with Genentech to Develop Navacim™ Therapeutics for the Treatment of Autoimmune Diseases
BURLINGAME, Calif. & CALGARY, Alberta–May 16, 2019 — Parvus Therapeutics, a biopharmaceutical company focused on the development of disease-specific immunoregulatory medicines to treat autoimmune diseases without impairing normal immunity, has entered into a worldwide collaboration and license agreement with Genentech, a member of the Roche Group, to develop, manufacture, and commercialize novel Navacim™ therapeutics for the treatment of inflammatory bowel disease (IBD), autoimmune liver diseases (ALD), and celiac disease (CD). Parvus will receive an undisclosed upfront payment and is eligible to receive research, development and commercialization milestone payments for each disease area within the collaboration, based on achievement of certain predetermined milestones. Parvus is also eligible to receive certain additional milestone payments in other disease areas, as well as royalties on net sales of products resulting from the collaboration.