Bayhill Therapeutics Signs Licensing Deal with Genentech
Bayhill Therapeutics Inc. has signed a worldwide license agreement with Genentech Inc., for an antigen-specific immunotherapy currently in a phase I/II clinical trial in patients with type 1 diabetes. The deal includes a $25 million upfront payment in cash and stock, and could be worth up to $325 million. Bayhill had previously raised $62.75 million in VC funding, from firms like U.S. Venture Partners, Morgenthaler Ventures, De Novo Ventures, CMEA Ventures, Lilly Ventures, Latterell Venture Partners, Montreux Equity Partners, Pappas Ventures, Boston Life Science Venture Corp., Grand Cathay Venture Capital Co., PAC-LINK Bio Management Corp., Prudence Venture Investment and Vertical Group. It had planned to go public, but pulled the offering last summer.
