Alligator Bioscience to Receive USD 6 Million Milestone Payment from Janssen
Alligator Bioscience announced that a development milestone payment of USD 6 million has been triggered under the partnership agreement for ADC-1013 (JNJ-64457107) with Janssen Biotech, Inc.
The milestone payment is for the partnership agreement to initiate a clinical combination study of ADC-1013 with one of Janssen's proprietary PD-1 inhibitors. This is the first out of a number of pre-defined milestones, related to the start of combination or phase II studies as part of the ADC-1013 clinical program, which all together have an aggregated potential value of 35 MUSD.
The licensing agreement with Janssen Biotech Inc. encompasses milestone payments up to a potential total value of USD 695 million. Alligator is also eligible to receive tiered royalties on worldwide net sales upon successful launch and commercialization of ADC-1013.
"We are pleased that our collaboration with Janssen is continuing to progress according to plan", said Per Norlén, CEO at Alligator Bioscience. "The upcoming combination is a very important step in the continued clinical development. Synergy between ADC-1013 and PD-1 blocking antibodies is supported by pre-clinical data. If this translates to the clinic, it could create new treatment opportunities for many cancer patients".
Alligator's partner Janssen Biotech, Inc. is performing a phase I dose-escalation clinical study (ClinicalTrials: NCT02829099) with intravenous administration of JNJ-64457107 (ADC-1013). This study is ongoing with approximately 50 patients recruited to date.
Most read news
Other news from the department research and development
Get the life science industry in your inbox
From now on, don't miss a thing: Our newsletter for biotechnology, pharma and life sciences brings you up to date every Tuesday and Thursday. The latest industry news, product highlights and innovations - compact and easy to understand in your inbox. Researched by us so you don't have to.