Molecular Partners Announces Collaboration with Janssen
Molecular Partners AG today announced that it 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. 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®-based products. 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. Further, Molecular Partners retains the rights to develop assets not optioned by Janssen Biotech during the research collaboration.