Arkuda Therapeutics Announces Option and Asset Purchase Agreement

 

-  Arkuda to grant Janssen option to acquire Arkuda's portfolio of lysosomal function enhancers in exchange for upfront option payment and opportunity for additional milestone payments

WATERTOWN, Mass., Feb. 7, 2024 /PRNewswire/ -- Arkuda Therapeutics, a biotechnology company applying novel insights at the intersection of lysosomal biology and neuronal health to develop medicines that change the trajectory of neurodegenerative disease such as Alzheimer's disease, Parkinson's disease and Frontotemporal dementia, today announced that it entered into an option and asset purchase agreement with Janssen Pharmaceutical Inc.  (Janssen), a Johnson & Johnson company, which grants Janssen an exclusive option to purchase Arkuda's portfolio of lysosomal function enhancers.

Under the terms of the agreement, Arkuda will receive an upfront payment, consisting of an option payment from Janssen and an investment from Johnson & Johnson Innovation – JJDC, Inc. Janssen obtains the right to acquire Arkuda's portfolio of lysosomal function enhancers for an upfront payment and additional milestone payments.

"We're excited about the profile of ARKD-104 as a novel oral treatment for FTD-GRN, but also for other diseases driven by lysosomal dysfunction, and look forward to advancing ARKD-104 to the clinic in the coming year," said Gerhard Koenig, Ph.D., President and CEO. "This agreement represents an important next step for Arkuda and provides validation of our leading-edge work in neurodegeneration."

About Arkuda Therapeutics

Arkuda Therapeutics is a biotechnology company applying insights into lysosomal biology to drive the development of medicines to change the trajectory of neurodegenerative disease. The company is exploring the therapeutic potential of its lysosomal function enhancers in neurodegenerative diseases where genetic links to dysfunction in progranulin and lysosomal biology have been established, including Frontotemporal Dementia, Alzheimer's Disease and Parkinson's Disease. Arkuda is backed by leading investors including Atlas Venture, Cormorant Asset Management, Pfizer Ventures, funds managed by abrdn Inc., Mission BioCapital, and Eli Lilly and Company. To learn more visit www.arkudatx.com.

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/arkuda-therapeutics-announces-option-and-asset-purchase-agreement-302055075.html

SOURCE Arkuda Therapeutics

 

Back to news