Johnson & Johnson's Janssen Biotech Inc. and Molecular Partners AG Expand Agreement to Immunological Diseases in Deal Worth $800 Million
Under the agreement, Molecular Partners and Janssen Biotech will collaborate on research of DARPins to selected targets. During the research phase, Janssen Biotech has the right to exercise four options to exclusively license DARPin(R)-based products. Upon execution of each option, Janssen Biotech will be solely responsible for all clinical development, manufacturing, and commercialization activities. Molecular Partners has an option to co-develop one product on a global basis.
Molecular Partners will receive significant upfront fees, license payments and research funding as part of an innovative agreement, as well as development and sales milestones of up to $200 million for each option. Upon commercialization, Molecular Partners will be entitled to a tiered and up to double-digit royalty on worldwide net sales.
"We are thrilled about entering into this broader alliance with Janssen Biotech as an expansion of our current agreement, which is a significant effort to build and expand our internal and external immunology pipeline. We see the enabling power of the DARPin(R) platform as a compound engine for us and our partners to generate pioneering multi-specific compounds delivering true patient benefit," said Christian Zahnd, Ph.D., Chief Executive Officer of Molecular Partners. "The strategic value of this deal is the collaborative approach with a multi-disciplinary team of world-class scientists, under which Molecular Partners expands its position of strength as a biopharmaceutical company pioneering innovative protein therapeutics, while retaining rights to develop novel assets not optioned by Janssen Biotech during the research collaboration."
SOURCE: Molecular Partners
College Hill Life Sciences
Nicole Yost, Daniel Gooch
Tel: +44 (0) 20 7866 7855 or 7866
For Molecular Partners:
Dr. Patrick Amstutz, CBO
Tel: +41 (0) 44 755 77 00