Inflazome has closed a share purchase agreement with pharma giant Roche that sees shareholders receive an upfront payment of €380 million.

Additional payments are contingent on certain predetermined milestones.

Inflazome was founded in 2016 Prof. Matt Cooper from University of Queensland and Prof. Luke O’Neill from TCD. The company is a leader in the development of inflammasome inhibitors.

Inflammasomes are understood to drive many chronic inflammatory conditions, from Parkinson’s and Alzheimer’s to asthma, inflammatory bowel disease, chronic kidney disease, cardiovascular disease and arthritis.

Inflazome has a portfolio of oral small molecule NLRP3 inhibitors, with lead molecules having successfully completed Phase 1 clinical trials, as well as several high potential earlier-stage programmes.

In Association with

Roche said it intends to further develop NLRP3 inhibitors across a wide variety of indications with high unmet medical need.

CEO Matt Cooper commented: “We are delighted to close this deal with Roche, an outstanding pharmaceutical company with a broad commitment to multiple indications. With Inflazome now part of the Roche organization, Inflazome’s pioneering molecules are well positioned to be developed quickly and effectively so they can help patients suffering from debilitating diseases.”

Inflazome’s funding journey was sourcing €7m venture capital in 2016, €7m in 2017, €14m in 2018 and €30m in 2019. The VCs in the money are Forbion, Longitude Capital, Fountain Healthcare Partners and Novartis Venture Fund. Among the investors last year was the Michael J Fox Foundation connected with the Back to the Future movie star.

In 2018, the company reported no turnover and R&D expenses of €12m, and year-end accumulated losses stood at €21m. Luke O’Neill is chair of Biochemistry in Trinity College Dublin while Cooper is a nominee for this year’s EY Entrepreneur of the Year awards.

Photo (l-r): Inflazome chairman Manus Rogan, Matt Cooper, Luke O'Neill and Jeremy Skillington, VP business development