Roche announces takeover of oncology specialist Ignyta

Roche has announced the acquisition of Ignyta, a specialist developer of innovative cancer medicines based in San Diego.

Ignyta is focused on precision medicine innovations in oncology that can be used to test, identify and treat patients with cancers harbouring specific rare mutations. Its lead molecule entrectinib is designed to target tumours that harbour ROS1 or NTRK fusions.

An ongoing pivotal phase II clinical trial is being carried out to future regulatory filings for the drug, which has shown promise in the treatment of non-small cell lung cancer and other solid tumours.

Under the terms of the deal, Roche will commence a tender offer to acquire all outstanding shares of Ignyta common stock for a total purchase price of around $1.7 billion (GBP 1.27 billion).

Daniel O'Day, chief executive officer of Roche Pharmaceuticals, said: "The agreement with Ignyta builds on Roche's strategy of fitting treatments to patients and will allow Roche to broaden and strengthen its oncology portfolio globally."

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