Aug 12 2015
Janssen Biotech, Inc. (Janssen), one of the Janssen pharmaceutical companies of Johnson & Johnson announced today an exclusive, worldwide license agreement with Alligator Bioscience AB for ADC-1013, an immuno-oncology agent currently in Phase 1 clinical studies. The agreement was facilitated by Johnson & Johnson Innovation, London.
Under terms of the agreement, Janssen will attain rights to develop and commercialize ADC-1013, an agonistic fully human monoclonal antibody. ADC-1013 targets CD40, an immuno-stimulatory receptor found on antigen-presenting cells such as dendritic cells. Stimulating this receptor initiates a process leading to an increase in T cells attacking a tumor.
Alligator Bioscience will receive an upfront payment plus additional milestone payments contingent upon reaching certain pre-determined development, regulatory and commercial milestones. Alligator Bioscience will complete the current Phase 1 dose escalation study and Janssen will be responsible for all subsequent development of ADC-1013, including research, development, manufacturing, regulatory and commercialization activities. In a separate transaction, Johnson & Johnson Innovation - JJDC, Inc. will subscribe for new shares of Alligator stock.
"ADC-1013 is a great addition to our growing immuno-oncology portfolio, which includes a broad range of approaches in both solid tumors and hematologic malignancies," said Peter F. Lebowitz, M.D., Ph.D., Global Oncology Head, Janssen Research & Development, LLC. "We were very impressed with the properties of this antibody and we are excited to continue the development that will ultimately deliver it to patients."
Based in Sweden, Alligator Bioscience is a privately held biotech company focused on developing innovative antibody-based immunotherapies for the treatment of cancer.
The closing is subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act.
SOURCE Janssen Biotech, Inc.
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