With this transaction, InterMune and Roche have terminated the collaboration agreement that the companies had forged in October 2006.
InterMune stated that it will make no further investment in Danoprevir, as a result of this transaction.
InterMune chairman, president and CEO Dan Welch said that after conducting a careful review of their strategy and financial position, they have decided to divest their rights to Danoprevir to Roche.
“This transaction provides a very substantial non-dilutive cash infusion that allows us to continue to independently and aggressively pursue the registration and commercialisation of pirfenidone in the US and EU, and eliminates our obligation to make significant ongoing investments related to the further development and commercialisation of Danoprevir,” Welch said.