ZURICH, Feb 18 (Reuters) - Swiss drugmaker Roche said on Monday it would work with privately held Chiasma to develop and market a treatment for growth hormone disorders in a deal worth almost $600 million in upfront and milestone payments.
The companies will work on the development Octreolin, an oral form of a growth hormone treatment now only sold in injections. Octreolin is currently in a late stage trial for the treatment of a condition caused by excessive growth hormone.
Roche will make an upfront payment of $65 million to Chiasma, further milestone payments of up to $530 million and double digit royalties on net sales of Octreolin.
Reporting by Martin de Sa'Pinto