Biolex Forms Broad Strategic Alliance with Centocor to Develop and Manufacture Therapeutic Proteins

19-Apr-2005

Biolex, Inc. announced a broad-based, multi-leveled strategic alliance with Centocor, Inc. to manufacture selected proteins using the Biolex LEX System(TM). The alliance will leverage certain key product candidates in Centocor's therapeutic protein pipeline, using Biolex' innovative method to economically and rapidly both develop and scale-up these proteins. Under the terms of the agreement, Biolex will advance up to ten Centocor proteins in its patented LEX System.

Upon the commencement of the alliance, Biolex received an upfront payment for access to the LEX System. In addition, Centocor will provide Biolex funding over three years to support scaling-up certain key aspects of the LEX System.

Johnson & Johnson Development Corporation (JJDC), the venture capital subsidiary of Johnson & Johnson, will make an investment in Biolex' next equity financing round and provide Biolex further investments to assist with the establishment of additional large scale GMP biomanufacturing facilities. Biolex is eligible to receive manufacturing related milestone payments from Centocor upon establishment and validation of these facilities.

For each of the up to ten therapeutic proteins developed under the alliance, Biolex will receive milestone payments related to the successful clinical advancement and regulatory approval, as well as supply fees for GMP materials. Biolex will also receive royalties on the sales of any products developed under the alliance.

https://www.bionity.com/en/news/45255/biolex-forms-broad-strategic-alliance-with-centocor-to-develop-and-manufacture-therapeutic-proteins.html