Swiss drug giant Roche is wrapping up 2019 with one last deal in Massachusetts: A tie-up with Cambridge biotech Rheos Medicines in the startup’s first drug development collaboration.
The startup was launched by Third Rock Ventures last year with plans to treat diseases in which the immune system becomes dysfunctional, like cancer, inflammatory diseases and immune disorders. It has not yet disclosed any lead drug candidates or clinical trial plans.
Roche will pay $42.5 million upfront and another $750 million in preclinical, clinical and commercial milestones, according to a press release. That adds to the $87.5 million Rheos has raised since being founded in 2017.
