US biotech Ascidian Therapeutics announced on Tuesday the signature of a collaboration and licensing agreement with Swiss pharmaceutical giant Roche.

Under the terms of the partnership, the two groups will work together on the development of RNA exon editing technologies to discover new treatments for neurological diseases.

Ascidian will conduct research and pre-clinical studies in cooperation with Roche, which will be responsible for clinical development, manufacturing and commercialization.

Ascidian will receive an upfront payment of $42 million, but could receive up to $1.8 billion in milestone payments and potential royalties on future sales of products resulting from the collaboration.

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