Pharma BD Deal Intelligence
Roche acquired UK-Belgian biotech Tusk Therapeutics in September 2018 for EUR 70M (~$81M) upfront plus up to EUR 585M (~$678M) in development and commercial milestones (total up to EUR 655M / ~$759M). The deal added Tusk's preclinical anti-CD25 antibody designed to deplete regulatory T cells in tumors without blocking IL-2 signaling, the first major pharma Treg-targeting oncology buyout. Roche advanced the asset (RG6292 / RO7296682 / vopikitug) into two Phase 1 studies, but both were terminated: the monotherapy study (NCT04158583) completed in July 2022 and the atezolizumab-combination study (NCT04642365) was terminated in January 2024 citing a low likelihood of achieving the targeted efficacy. Phase 1 results published in 2025 (Cancer Research Communications) concluded that RG6292 alone or with atezolizumab showed insufficient clinical efficacy to warrant further exploration, ending the program. The acquisition closed as announced; the milestone-heavy contingent value was almost certainly never realized, though Roche does not disclose milestone payments.
Assessment window: 5yr post-close.