Reston – June 26, 2018 – Cooley advised Lodo Therapeutics Corporation on its $969 million strategic drug discovery collaboration with Genentech, a member of the Roche Group. Cooley partner Kenneth Krisko led the team advising Lodo on the transaction.
Under the terms of the agreement, Genentech will utilize Lodo’s proprietary genome mining and biosynthetic cluster assembly platform to identify novel molecules with therapeutic potential against multiple disease-related targets. Lodo is eligible to receive research, development and commercialization milestone payments of up to $969 million and tiered royalties on sales of certain products.
“We are excited to work with Genentech in their quest to discover novel, next-generation natural products derived from the microbiome of the soil using this innovative platform developed by Lodo,” said Sean Brady, co-founder of Lodo Therapeutics, in a news release.
Rather than relying on culturing known strains of bacteria, Lodo Therapeutics’ genome-based approach leverages the power of microbial evolution to identify novel, naturally occurring compounds that have therapeutic potential in the treatment of cancer and drug-resistant bacterial infections. This approach is expected to reduce the time and cost of drug discovery.
In 2016, Cooley advised Lodo on its $17 million Series A funding round.
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