- Roche (OTCQX:RHHBY) acquires Berkeley, CA-based privately held Adheron Therapeutics. Under the terms of the deal, Adheron shareholders will receive $105M upfront plus potential milestones of up to $475M.
- Adheron has developed a technology that disrupts immune cell adhesion through a cell surface protein called Cadherin-11, which has the potential for treatments for a range of inflammatory and autoimmune diseases. Its lead product candidate is SDP051, a humanized monoclonal antibody targeting Cadherin-11 that just completed Phase 1 development.
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Cadherin-11, a protein that acts as an "adhesive" between cells, is a key mediator of joint destruction in rheumatoid arthritis and plays a key role in fibrotic pathology.