University of Calgary-born Parvus Therapeutics has inked an $800m deal with Genentech to develop and commercialise treatments for autoimmune diseases.

Parvus Therapeutics, a Canada-based biopharmaceutical spinout of University of Calgary, has signed a collaboration and licensing deal with biotechnology developer Genentech worth more than $800m. The two companies will work together on the development, manufacturing and commercialisation of treatments based on Parvus’ Navacim platform. They will focus on inflammatory bowel disease, autoimmune liver diseases and coeliac disease. Parvus will receive an upfront payment, and is eligible to receive research, development and commercialisation milestone payments. It is also eligible for additional milestone payments in other disease areas, as well as royalties on net sales of products resulting from the collaboration. The spinout will be responsible for pre-clinical and phase 1 development, with Genentech taking over from phase 2. Further financial details of the agreement were not revealed. Founded in 2007, Parvus Therapeutics is working on treatments for autoimmune conditions without impairing the normal functioning of the immune system. Alternative therapies tend to affect the entire immune system, making a patient vulnerable to other issues. The spinout’s approach has applications in a wide range of conditions, from type 1 diabetes to multiple sclerosis and rheumatoid arthritis. Parvus was founded by Pere Santamaria, a professor in the department of microbiology, immunology and infectious diseases at University of Calgary’s Cumming School of Medicine. Santamaria himself lives with an autoimmune disease. Parvus previously obtained advice and support from Innovate Calgary, the innovation transfer and incubator centre of University of Calgary, as well an undisclosed amount of angel funding. Curtis Ruegg, president and CEO of Parvus, said: “Our collaboration with Genentech is now the second partnership that we have entered into with a major biopharmaceutical company, which we believe reinforces the potential of our Navacim immunoregulatory therapeutic platform. “Partnering with Genentech will enable Parvus to expand the Navacim pipeline to address several debilitating autoimmune diseases in gastroenterology.”

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Thierry Heles

Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).