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Alligator Bioscience To Receive $6M Milestone Payment

As part of their partnership agreement with Janssen

By: Betsy Louda

, Contract Pharma

Alligator Bioscience announced that a development milestone payment of $6 million has been triggered under their partnership agreement for ADC-1013 (JNJ-64457107) with Janssen Biotech.

 

The milestone payment is for the 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, chief executive officer 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”.

 

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