Molecular Partners has entered into a strategic research collaboration and option agreement with Janssen Biotech Inc. to research, discover and develop DARPin products for the treatment of immunological diseases.
The collaboration and expansion of the agreement with the company and its affiliates aims to explore a defined set of targets, including the use of multispecific DARPins, to address diseases where unmet needs for effective treatment options continue to exist.
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 license DARPin-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 the 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.
Release Date: Dec. 8, 2011
Source: Molecular Partners
