Janssen Biotech, a subsidiary of healthcare conglomerate Johnson & Johnson, has signed an exclusive worldwide licensing agreement with Sweden-based Alligator Bioscience for one of its antibody-based drugs.
The license gives Janssen Biotech the rights to develop and commercialise ADC-1013, an immune system-based treatment for cancer that is currently in phase 1 clinical trials. For these rights, Alligator Bioscience has received an undisclosed upfront payment along with contracted future milestone payments.
Alligator Bioscience will continue its phase 1 trials with Janssen Biotech taking on responsibility for any future trials.
Alongside this license agreement, Johnson & Johnson Innovation, another subsidiary of Johnson & Johnson, will subscribe for new shares in Alligator Bioscience.
Peter Lebowitz, global oncology head at Janssen Research and Development, said: “ADC-1013 is a great addition to our growing immuno-oncology portfolio, which includes a broad range of approaches in both solid tumours and haematologic malignancies.
“We were very impressed with the properties of this antibody and we are excited to continue the development that will ultimately deliver it to patients.”