Genentech Announces Definitive Agreement to Acquire Seragon Pharmaceuticals
July 1st, 2014On July 1, 2014, Genentech entered into an agreement to acquire Seragon Pharmaceuticals, Inc., a privately held biotechnology company based in San Diego, California. Upon closing of this acquisition, Genentech will obtain rights to Seragon’s portfolio of investigational next-generation oral selective estrogen receptor degraders (SERDs), for the potential treatment of hormone receptor-positive breast cancer.
More than 150,000 women in the United States are diagnosed each year with hormone receptor-positive cancer, which hijacks hormones like estrogen to fuel the growth of cancer cells.
These investigational next-generation SERDs will
- complement Genentech’s existing research and development programs in breast cancer
- provide an opportunity for Genentech to continue our 30 plus year commitment to breast cancer research
- strengthen Genentech’s oncology pipeline