By Conor Hale
May 9, 2018
Genentech signed a broad, open-ended drug discovery collaboration with Lodo Therapeutics that could be worth nearly $1 billion, focused on deriving unique, natural products from the microbial DNA found in soil.
The drugmaker plans to use Lodo’s metagenome-prospecting platform to identify novel small molecules with therapeutic potential against a wide range of diseases and targets. While the upfront payment was not disclosed, Lodo is eligible for development milestone bonuses totaling up to $969 million, as well as tiered royalties based on future sales.