Kineta Chronic Pain signed an agreement with pharmaceutical leader Genentech to develop a non-opioid chronic pain treatment, according to CNBC.
Here are three things to know.
1. The upfront payments were not disclosed, however, Kineta is eligible to receive up to $359 million on top of royalty payments.
2. Genentech has the ability to license technologies developed from the collaborations.
3. Early tests of the drug are displaying disease-modifying effects, such as reduced information and nerve protection.
4. Roche purchased Genentech for $46.8 billion in 2009.
5. Kineta was founded in 2008 to develop drugs for chronic pain, autoimmune and infectious diseases.