Roche Holding AG (SWX: RO), which is already is involved in an expensive takeover bid for Genentech Inc. (NYSE: DNA), has also begun deliberating a combination with Israeli microRNA-based diagnostics and therapeutics developer Rosetta Genomics Ltd. (Nasdaq:ROSG). Sources inform ''Globes'' that Roche representatives visited Rosetta's offices and negotiations for a possible investment or takeover are underway. Talks are in the early stage.
Rosetta declined to comment on the report.
Roche is the world's leading biodiagnostic developer. Rosetta has developed a new series of microRNA-based biological markers. The body uses microRNA to encode proteins, and they are involved in a wide range of diseases. Rosetta owns a substantial amount of the world's microRNA intellectual property.
In an unrelated development, Rosetta yesterday announced that it was transferring its microRNA-based liver cancer therapeutics project with Isis Pharmaceuticals Inc. (Nasdaq: ISIS) to Regulus Therapeutics, a joint venture between Alnylam Pharmaceuticals Inc. (Nasdaq: ALNY) and Isis, that develops microRNA-based therapeutics. Regulus and Rosetta will continue collaborating under the same terms and conditions. This project, which is partly funded by Israel-United States Binational Industrial Research and Development Foundation (BIRD-F), aims to develop drugs for the treatment of microRNA-based therapeutics for hepatocellular carcinoma, the most common form of liver cancer.
Rosetta's share fell 6% yesterday to $2.82, giving a market cap of $33.7 million.
Published by Globes [online], Israel business news - www.globes-online.com - on September 24, 2008
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