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Constellation Pharma teams up with Genentech

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Constellation Pharmaceuticals Inc. said that it has entered into a major strategic agreement with Genentech, a California-based member of the Roche Group, to launch a broad collaboration based on the science of epigenetics and chromatin biology to discover and develop treatments for cancer and other serious diseases.

Under the agreement, Cambridge-based Constellation said it will receive committed funding of $95 million, comprising of an upfront payment and research funding for a three-year period. Constellation said it will be eligible for development and commercialization milestone payments as well as up to double-digit royalties on commercial sales of multiple products by Genentech.

Constellation’s press release also noted that Genentech has a future option to acquire all outstanding shares of Constellation based on pre-negotiated terms, which include a significant initial acquisition payment plus contingent value rights payments based on the future successful development and commercialization of multiple products by Genentech.

Chris Reidy can be reached at reidy@globe.com.
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