Hookipa Pharma achieves $10M milestone payment under Roche collaboration

HOOKIPA Pharma (HOOK) announced that it has achieved a $10 million non-dilutive milestone payment under its collaboration agreement with Roche (RHHBY) to develop HB-700, a novel arenaviral immunotherapy for KRAS-mutated cancers. The success-based milestone payment reflects the start of the HB-700 manufacturing process to support a Phase 1 clinical trial. HOOKIPA plans to submit an Investigational New Drug Application to the U.S. Food and Drug Administration in the first half of 2024. In October 2022, HOOKIPA and Roche announced a strategic collaboration agreement to license and develop HB-700 for KRAS-mutated cancers and an option for a second, undisclosed arenaviral immunotherapy. Through the collaboration, HOOKIPA is conducting research and early clinical development through Phase 1b for HB-700. Upon the completion of the Phase 1b trial, Roche has the right to assume development responsibility and to commercialize licensed products across multiple indications upon approval. Under the collaboration, HOOKIPA is eligible for research, development and commercialization milestone-based payments up to approximately $930 million for both programs, plus royalties.