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Roche agrees to acquire biotech firm Seragon Pharmaceuticals

1:22 AM MDT | July 2, 2014 | Natasha Alperowicz

Pharma major Roche (Basel) announced today that its Genentech subsidiary has entered into a definitive agreement to acquire Seragon Pharmaceuticals (San Diego), a privately held biotechnology company. Genentech, through the acquisition, obtains rights to Seragon’s entire portfolio of investigational, next-generation, oral selective estrogen receptor degraders (SERDs) for potentially treating hormone-receptor-positive breast cancer. Under the terms of the agreement, Genentech will make an upfront cash payment of $725 million plus additional contingent...

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