Benzinga | Feb 19, 2021 08:34AM EST

Atea Pharmaceuticals In-Licenses AT-527 From Roche For The Treatment If COVID-19 In Japan; Financial Terms Not Disclosed

BOSTON, Feb. 19, 2021 (GLOBE NEWSWIRE) -- Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) ("Atea"), a clinical-stage biopharmaceutical company, today announced that Chugai Pharmaceutical Co., Ltd. (TYO:4519) has in-licensed the rights for AT-527 for the treatment of COVID-19 in Japan from Roche ((SIX: RO, ROG, OTCQX:RHHBY). Under a strategic collaboration, Roche and Atea are jointly developing AT-527 for the treatment of COVID-19 and Roche has the right to commercialize AT-527 outside of the United States. AT-527 is an orally administered, direct-acting antiviral developmental agent derived from Atea's purine nucleotide prodrug platform and is in Phase 2 development for the treatment of COVID-19.



"This agreement between Roche and Chugai underscores a commitment to global accessibility of AT-527 to fight COVID-19 and accelerates its entry into this important Asian market," said Jean-Pierre Sommadossi, Ph.D., Founder and Chief Executive Officer of Atea Pharmaceuticals. "We are delighted that Chugai, who is closely aligned with Roche through a strategic alliance, will undertake this important work, as they have commercial and development expertise and are a market leader in Japan."

Atea and Roche announced a strategic collaboration on October 22, 2020. The collaboration aims to accelerate the clinical development and manufacturing of AT-527, to investigate its safety and efficacy, and to provide this potential treatment option to patients around the world as quickly as possible.