Pharma BD Deal Intelligence
In July 2020 Roche entered an exclusive collaboration and license agreement with Blueprint Medicines for the development and commercialization of pralsetinib (Gavreto), a selective RET kinase inhibitor, outside the United States (excluding Greater China, which was retained by CStone). Roche paid $675M upfront in cash plus a $100M equity investment in Blueprint ($775M total upfront), with Blueprint eligible for up to ~$1.05B in milestones plus tiered royalties on ex-US net sales; the companies were to co-commercialize in the US. On February 22, 2023 Roche notified Blueprint it would terminate the collaboration for strategic reasons (effective 12 months later, ~February 2024), and Blueprint regained global rights ex-Greater China. In February 2024 Blueprint sold US rights to pralsetinib to Rigel Pharmaceuticals for up to $117.5M (including up to $102.5M in milestones) plus tiered royalties. The Roche partnership is therefore terminated; Blueprint received roughly $1B in combined upfront and milestone payments over the life of the agreement.