SanegeneBio grants exclusive worldwide license to one of its RNAi programs to Genentech

- SanegeneBio to receive $200 million upfront payment and will be eligible to receive development and commercialization milestone payments, totaling up to $1.5 billion, plus tiered royalties

- Genentech will be responsible for the subsequent clinical development and commercialization globally

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SanegeneBio, a clinical-stage biotechnology company developing innovative RNAi therapeutics, announced a global licensing agreement with Genentech, a member of the Roche Group, to advance one of its RNAi programs based on its proprietary RNAi platform. Under the agreement, SanegeneBio grants Genentech exclusive worldwide rights to develop and commercialize the program. SanegeneBio will be responsible for early development activities and Genentech will subsequently lead all future clinical development and commercialization activities.

SanegeneBio's proprietary RNAi platform includes novel chemistries and delivery technologies that can be utilized to generate potential breakthrough siRNA medicines for multiple disease areas.

"Entering into this agreement with Genentech marks another important milestone for our innovative and differentiated RNAi chemistry and delivery platforms," said Weimin Wang, Ph.D., Chief Executive Officer and Founder of SanegeneBio. "We are delighted to work with a global scientific leader to continue delivering effective and life-changing therapies for patients worldwide."

Under the terms of the agreement, SanegeneBio will receive an upfront payment of $200 million and will be eligible to receive development and commercialization milestone payments, totaling up to $1.5 billion, as well as tiered royalties on potential future product sales.