Roche and Chiasma announce collaboration to develop and commercialize Chiasma's Octreolin® for acromegaly and neuroendocrine

    Roche and Chiasma announce collaboration to develop and commercialize
        Chiasma's Octreolin® for acromegaly and neuroendocrine tumors

PR Newswire

BASEL, Switzerland, NEW YORK and JERUSALEM, Feb. 18, 2013

BASEL, Switzerland, NEW YORK and JERUSALEM, Feb. 18, 2013 /PRNewswire/ --
Roche (SIX: RO, ROG; OTCQX: RHHBY) and Chiasma (pronounced key-az-ma) Inc., a
privately held biopharma company, announced today that they have entered into
an agreement to develop and commercialize Chiasma's proprietary product
Octreolin, initially for acromegaly and subsequently for neuroendocrine
tumors. Octreolin is an investigational oral form of the peptide octreotide, a
somatostatin analog that is commercially available only by injection.
Octreolin is currently in a pivotal phase 3 clinical trial for acromegaly.

Under the terms of the agreement, Roche received a worldwide exclusive license
to Octreolin, and will assume responsibility for the commercialization of
Octreolin. Genentech will market the product in the United States after US FDA
approval. Chiasma will continue development through completion of the pivotal
phase 3 clinical trial for acromegaly. The arrangement includes an upfront
payment to Chiasma of $65 million, future considerations of up to $530 million
in development and commercial milestones, as well as tiered, double-digit
royalties on Octreolin net sales.

Commenting on the deal, Fredric D. Price, Chiasma's Chairman and Chief
Executive Officer said: "We are especially pleased to have entered into this
agreement with Roche, an ideal collaboration partner that has the right
development and commercial resources in the areas of endocrinology and
oncology to support Octreolin."

Hal Barron, M.D., Roche Global Head of Product Development and Chief Medical
Officer added: "If approved, Octreolin would be an important alternative for
patients with acromegaly,a disorder that develops when a person'spituitary
gland produces too much growth hormone. Octreolin is an investigational oral
regimen that avoids the painful injections of current treatment options."

Evercore Partners served as Chiasma's financial advisor on the transaction,
and Latham & Watkins LLP served as its legal counsel.

About Chiasma
Chiasma is developing oral drugs that previously were only available by
injection, thereby providing patients with pain-free medications that are
self-administered. The Company's lead candidate is an oral form of the peptide
octreotide, initially being developed for patients with acromegaly that is in
a Phase 3 (pivotal) trial. Chiasma is evaluating additional proteins,
peptides and small molecules that can be applied to its proprietary Transient
Permeability Enhancer (TPE) technology to enable oral delivery of drugs that
previously were available by injection only. Chiasma is a Delaware
corporation with a 100% owned Israeli subsidiary. Additional information can
be found at

About Roche
Headquartered in Basel, Switzerland, Roche is a leader in research-focused
healthcare with combined strengths in pharmaceuticals and diagnostics. Roche
is the world's largest biotech company, with truly differentiated medicines in
oncology, infectious diseases, inflammation, metabolism and neuroscience.
Roche is also the world leader in in vitro diagnostics and tissue-based cancer
diagnostics, and a frontrunner in diabetes management. Roche's personalised
healthcare strategy aims at providing medicines and diagnostic tools that
enable tangible improvements in the health, quality of life and survival of
patients. In 2012 Roche had over 82,000 employees worldwide and invested over
8 billion Swiss francs in R&D. The Group posted sales of 45.5 billion Swiss
francs. Genentech, in the United States, is a wholly owned member of the Roche
Group. Roche is the majority shareholder in Chugai Pharmaceutical, Japan. For
more information, please visit

All trademarks used or mentioned in this release are protected by law.

Forward-Looking Statements
This press release contains forward-looking statements about the business,
goals and prospects of Chiasma, Inc., including, without limitation,
statements about the development of drugs in the Transient permeability
Enhancer (TPE) system. These forward-looking statements are predictions and
involve risks and uncertainties such that actual results may differ materially
from these statements. Chiasma is under no obligation, and expressly disclaims
any obligation, to update or alter any forward-looking statement, whether as a
result of new information, future events or otherwise.

SOURCE Chiasma

Contact: Fredric D. Price, Chairman and Chief Executive Officer, Chiasma,
+1-914-234-2268, or Roni Mamluk, PhD, Chief Operating
Officer, Chiasma, (In Israel) 972.54.428.3049,; Emilie
Vincent, Head of Roche Partnering Communications,
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