Roche signs near-$1 billion partnership with Chinese biotech Defand on degrader therapies

Roche has entered into a new collaboration with Defand, a relatively unknown biotech based in Hangzhou, China. The agreement is the fourth China-focused deal the Swiss drugmaker has signed since August.

The partnership targets the development of degrader molecules, a class of therapeutics that harness the body's protein-degradation machinery. If all development milestones are met, the total potential value of the deal approaches $1 billion.

The deal underscores Roche’s strategy to expand its presence in the Chinese market and to tap emerging biotech innovations. Details of the financial terms beyond the milestone-based payments were not disclosed.