Genentech makes triple play with new biotech partnerships

Genentech has struck research partnerships with three biotech companies. The first is with Sosei Heptares to develop small molecules that target G protein–coupled receptors. Sosei could receive up to $26 million in near-term payments and over $1 billion in milestones. The second is with Skyhawk Therapeutics to develop small molecules that alter RNA splicing in cancer and neurodegenerative diseases. Skyhawk could earn more than $2 billion in payments. The third deal is with Convelo Therapeutics to discover drugs that regenerate myelin in the nervous system to treat diseases like multiple sclerosis. Terms were not disclosed.