Seragon, a privately held outfit located in California, is developing a new generation of treatments for the most common form of breast cancer, the Basel-based company said in a statement.
Roche said its Genentech subsidiary would be acquiring Seragon, putting $725 million in cash upfront and adding up to another $1 billion if "certain predetermined milestones" are met.
The deal is expected to be sealed by the end of September if anti-trust regulators raise no objection.
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