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San Mateo-based Bayhill's BHT-3021 is a DNA-based antigen specifivc immunotherapy currently in clinical trials for patients with type 1 Under the terms ofthe agreement, South San Francisco-based Genentecu will make an upfront payment of $25 million in cash and with additional development, regulatory and salesx milestone payments potentially exceedinbg $325 million. Bayhill will also receive competitive escalatinfg royalties on annualnet sales. Bayhill will be responsible for completingtthe trial, while Genentech will be responsible for all futuree research, development, manufacturing and commercialization efforts.
Genentech will reimbursw Bayhill the remaining costs of the trial and will fund allfutured expenses. Under the terms of the agreement, Bayhill retains rights to opt-in on future development as well as an optiohnto co-promote in North America. Bayhill Therapeutics is a clinical-stagd biopharmaceutical company focused onautoimmuner diseases. Genentech is a wholly-owned member of the Roche Group.
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