03 January 2018

Alligator Bioscience to receive USD 6 million clinical milestone payment from Janssen coupled to the decision to initiate combination trial with ADC-1013

 

Lund, Sweden, 3 January, 2018 – Alligator Bioscience (Nasdaq Stockholm: ATORX), a biotechnology company developing antibody-based pharmaceuticals for tumor-directed immunotherapy, announced today that a development milestone payment of USD 6 million has been triggered under the partnership agreement for ADC-1013 (JNJ-64457107) with Janssen Biotech, Inc.

The milestone payment is for the partnership 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” “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”.

Per Norlén

CEO at Alligator Bioscience

Alligator’s partner Janssen Biotech, Inc. is performing a phase I dose-escalation clinical study (ClinicalTrials: NCT02829099) with intravenous administration of JNJ-64457107 (ADC-1013). This study is ongoing with approximately 50 patients recruited to date.


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