June 1 Quick Takes: Repare gets $125M in Roche deal for precision oncology candidate

Repare Therapeutics Inc. (NASDAQ:RPTX) fortified its balance sheet via a deal with Roche (SIX:ROG; OTCQX:RHHBY) for lead candidate camonsertib, gaining $125 million up front. The pharma will receive a worldwide license to the ATR inhibitor to treat tumors with particular synthetic lethal gene alterations, including in the ATM gene. Camonsertib has shown clinical benefits in a Phase I/II study, including an overall response rate of 25% among 20 patients with advanced ovarian cancer. Repare, which had $312 million in cash at March 31, is eligible for $1.2 billion in milestones, plus royalties. Its next most advanced candidate, PKMYT1 inhibitor RP-6306, is in Phase I testing. The biotech was up 20% to $10.50 in after-hours trading Wednesday. 

Hangzhou DAC Biotechnology Co. Ltd. is collaborating with Johnson & Johnson (NYSE:JNJ) to develop antibody-drug conjugates against up to five targets, using J&J’s antibodies and DAC’s conjugation platform. Terms are undisclosed, but the China-based biotech will receive an upfront payment, milestones and royalties, and J&J will obtain an equity stake via its Johnson & Johnson Innovation – JJDC Inc. division. DAC said the deal is its first since it was established in late 2012. The company has five clinical programs. GL Ventures, CDG Capital and CPE backed it in a series C round last year...