Roche Holding AG (VTX: ROG) has agreed to purchase venture capital-backed biotechnology company Tensha Therapeutics for up to $535 million.
The deal calls for Roche to pay $115 million in upfront cash and up to another $420 million that is based on the target’s future performance
Tensha has developed a biotechnology product, called Ten-010, that is designed to potentially treat cancer patients and it is currently in clinical trials. Tensha is backed by Healthcare Ventures. Tensha CEO Douglas Onsi says “Roche is the ideal company to explore the broad clinical potential of Ten-010.”