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Hutchison Medipharma Receives $6 Million Milestone From Janssen Pharmaceutical Inc.



10/10/2013 11:13:05 AM

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by Richard Daverman, PhD

October 10, 2013 -- Hutchison MediPharma, a division of Chi-Med, will receive a $6 million milestone payment from Janssen Pharma. The payment was triggered by a small-molecule candidate with an inflammation/immunology target that Janssen in-licensed from HMP in 2010. Although HMP has not disclosed the target, the company did say it could receive up to $90.5 million in additional clinical and approval milestones from the partnership. If the drug is approved, HMP will be paid royalties on sales. More details....

Stock Symbol: (AIM: HCM)

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