Execution of option by Janssen in multispecific DARPin collaboration
Molecular Partners announces execution of option by Janssen in multispecific DARPin collaboration
Zürich-Schlieren, Switzerland, 09 December, 2014. Molecular Partners announced today that Janssen Biotech, Inc. (“Janssen”) has exercised an option to secure exclusive rights to a multi-specific DARPin program. As a compensation for the option exercise, Molecular Partners will receive a milestone payment of USD 2 million.
Molecular Partners had initiated the agreement with Janssen in December 2011 to develop therapies in the area of immunology. Within this collaboration Janssen has evaluated DARPins against several targets thought to be important for the treatment of inflammatory and auto-immune diseases.
As part of the overall agreement, Molecular Partners has received upfront fees and research funding and can further receive license payments as well as development and sales milestones totaling up to a maximum of USD 200 million for each product optioned. Upon commercialization, Molecular Partners will be entitled to a tiered and up to double-digit royalty on worldwide net sales. Further, Molecular Partners retains the rights to develop assets not optioned by Janssen during the research collaboration.
Christian Zahnd, CEO of Molecular Partners says: “We are very happy about the significant progress in our collaboration with Janssen. The DARPin platform allows for the potential to generate differentiated drug candidates, combining multiple therapeutic effects in one molecule.”
It is Molecular Partners’ business model to collaborate with leading pharmaceutical companies to leverage the full potential and reach of its innovative multi-benefit DARPin platform. These partnerships are designed to enable the discovery and development of breakthrough therapies, creating value for our partners and Molecular Partners – and ultimately bringing improved health outcomes to patients with serious diseases.
Patrick Amstutz, COO of Molecular Partners adds: “Our close collaboration with Janssen combines their outstanding expertise in immunology with our own capabilities on the DARPin platform to create innovative product concepts for potential patient benefit.”