Roche’s Genentech unit has entered into an agreement with MRC Technology for an exclusive licence to a series of small molecule drug candidates for the potential treatment of neurological disease.

The commercial arm for the UK Medical Research Council noted that it will receive an upfront fee and is eligible to receive clinical development milestone payments and royalties on sales. Full financial terms and the target of the small molecule project have not been disclosed.

Dave Tapolczay, chief executive of MRC Technology, said, the group is “extremely pleased that the terms of our agreement reflect the value of the small molecule drug discovery programme and support our innovative business model”. He added that the Genentech deal is just “one example of the innovative ways that MRC Technology is now exploiting both its small molecule and therapeutic antibody capabilities”.