Seattle-based biotech Good Therapeutics is being acquired by Swiss Pharmaceutical giant Roche for $250M, plus further payments for specified milestones.
Once the acquisition is complete, Good Therapeutics will operate as Bonum Therapeutics, continuing to develop medicines for cancer and other diseases. The whole Good Therapeutics team will be retained by Bonum.
“With our proven track record in cancer immunotherapy, we are well-positioned to leverage our deep discovery, development, clinical, and manufacturing capabilities and worldwide reach to potentially bring innovative products from this program to patients as fast as possible,” said James Sabry, global head of pharmaceutical partnering at Roche.