ST. LOUIS (September 7, 2022) – Good Therapeutics – a RiverVest Venture Fund IV portfolio company – has entered into a definitive merger agreement to be acquired by Roche (SIX: RO, ROG;OTCQX: RHHBY) for $250 million up front with the potential for additional payments based on the achievement of predetermined development, regulatory, and commercial milestones.
Good Therapeutics was founded to create a new class of drugs that identify “context-dependent” antibodies to be triggered in a patient when and where appropriate, leading to more consistently effective and safe immuno-oncology therapies than are currently available to cancer patients.
With this acquisition, Roche will gain rights to Good’s innovative, conditionally active PD-1-regulated IL-2 program and an exclusive right to the platform technology for the development of PD-1-regulated IL-2 receptor agonist therapeutics. Roche has a proven track record in cancer immunotherapy and is well-positioned to leverage its deep discovery, development, clinical, and manufacturing capabilities and worldwide reach to potentially bring innovative products from this program to patients as fast as possible.
In addition to its acquisition by Roche, Good announced the launch of a new spinout company, Bonum Therapeutics.
The entire Good team – along with Good’s proven core technology, supportive investor syndicate, an experienced board, and several exciting projects – has moved over to Bonum.
RiverVest co-led Good’s $22 million Series A Preferred Equity round in 2018 and participated in the Series B round in 2021. As a member of Good’s board of directors, RiverVest Managing Director John McKearn, Ph.D., provided essential guidance to the company and will continue to do so by joining Bonum’s board.
The RiverVest team is excited about the outlook for conditionally active therapeutics in treating cancer patients and plans to invest in Bonum.