Convelo, Genentech to Collaborate on Remyelinating Therapies

Convelo Therapeutics, Inc. has entered into an exclusive worldwide collaboration with Genentech to accelerate discovery and development of novel remyelinating medicines for neurological disorders such as multiple sclerosis (MS).  
 
Convelo will receive an undisclosed upfront payment and research support from Genentech. Genentech will retain an exclusive option to acquire all outstanding stock of Convelo for an additional undisclosed payment and downstream milestones. 
 
"We are excited to be working with Genentech to discover and develop first-in-class therapies for patients suffering from diseases driven by myelin loss such as multiple sclerosis," said Derrick Rossi, Ph.D., Chief Executive Officer of Convelo. "This partnership combines the strengths of our two organizations to potentially bring new medicines to patients." 
 
Tracy Saxton, Convelo’s Chief Business Officer added, "This collaboration is an important milestone in our company’s growth and enables us to execute on our corporate strategy."
 
"There have been important treatment advancements for people living with multiple sclerosis, but many still experience disability progression," said James Sabry, M.D., Ph.D., Global Head of Pharma Partnering, Roche. "Novel medicines that regenerate the myelin around nerve cells could help address this significant need. We look forward to collaborating with Convelo to hopefully deliver new options to people with multiple sclerosis and other neurological disorders."  

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