Sosei Group Corporation will receive a USD 3.75 million milestone payment under the 2019 multi-target Research Collaboration and License Agreement with Genentech, a member of the Roche Group. The discovery-based payment is related to progression of a potential first-in-class project targeting an undisclosed G protein-coupled receptor ("GPCR"). Genentech will now be responsible for further development and commercialization of this potential new medicine.

This milestone is the latest of an ongoing collaboration that utilizes Sosei Heptares' proprietary GPCR-focused structure-based drug design capabilities combined with Genentech's discovery, development and therapeutic area expertise directed towards multiple GPCR targets nominated by Genentech. Under the terms of the agreement, Sosei Heptares is eligible to receive future milestone payments from Genentech, which in total may exceed USD 1 billion upon achieving pre-specified research, development and commercialization events.