PRISM BioLab, a Japan based biotechnology company with a proprietary peptide mimetic small molecule drug discovery platform, today announced it has entered into a multi-target research collaboration and licensing agreement with Roche and Genentech, a member of the Roche Group.

Under the terms of the agreement, PRISM BioLab will provide its proprietary library of peptide mimetic small molecules, the PepMetics Library, for screening against targets selected by Roche and Genentech. Upon identification of hit compounds, Roche and Genentech may elect to further develop and commercialize the compounds.

PRISM BioLab is eligible to receive an upfront payment, success-based milestone payments and royalties on future net sales. Specific financial terms are not disclosed.