Open Monoclonal Technology, Roche deal
Roche will acquire Open Monoclonal's OMT 3 Inc. spinout, giving the pharma and its Genentech Inc. unit unlimited access to Open Monoclonal's OmniRat mAb platform, which generates human antibodies using transgenic rats. Roche can use the platform to generate mAbs for any target and indication. In addition, the pharma gained the right to further engineer the platform and will grant Open Monoclonal a royalty-free sublicense to use any improvements made. All of Open Monoclonal's other partners and clients would be able to access the improved technology. The biotech said Roche will pay a multi-million upfront payment and that the deal includes no milestones or royalties. The biotech said its two other spin-offs - OMT 1 Inc. and OMT 2 Inc. - are also for sale, and that it plans to launch a spin-out product play, OMT Therapeutics Inc., this year. ...