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Phylogica, Genentech to continue research collaboration, license deal

Australian drug discovery company Phylogica Ltd. and Roche Holding Ltd.'s Genentech extended the exclusivity period of a research collaboration and license agreement for the discovery of novel antibiotics.

The collaboration utilizes Phylogica's Phylomer drug discovery platform, including its proprietary cell penetrating peptide discovery technology.

As part of the deal, Phylogica will receive a $2 million milestone payment. Phylogica is also eligible to receive research, development and commercialization milestone payments of up to $142 million, in accordance with a 2014 agreement.