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Alligator Bioscience in billion-dollar business deal

Janssen Biotech, one of the Janssen pharmaceutical companies of Johnson & Johnson has entered an exclusive, worldwide license agreement with Alligator Bioscience AB for ADC-1013, an immuno-oncology agent currently in Phase 1 clinical studies.

Under terms of the agreement, Janssen will attain rights to develop and commercialize ADC-1013, an agonistic fully human monoclonal antibody. ADC-1013 targets CD40, an immuno-stimulatory receptor found on antigen-presenting cells such as dendritic cells. Stimulating this receptor initiates a process leading to an increase in T cells attacking a tumor.

“This is a key milestone for Alligator Bioscience” said Peter Benson, Chairman of the Board of Directors. “ADC-1013, based on a promising and positive pre-clinical data package, is now in Phase I clinical trials.  We are very pleased to welcome this collaboration with a leading, global oncology company and look forward to working together to ensure ADC-1013 will be benefitting patients as soon as possible.”

Alligator Bioscience will receive an upfront payment plus additional milestone payments contingent upon reaching certain pre-determined development, regulatory and commercial milestones. Alligator Bioscience will complete the current Phase 1 dose escalation study and Janssen will be responsible for all subsequent development of ADC-1013, including research, development, manufacturing, regulatory and commercialization activities. In a separate transaction, Johnson & Johnson Innovation – JJDC, Inc. will subscribe for new shares of Alligator stock.
“ADC-1013 is a great addition to our growing immuno-oncology portfolio, which includes a broad range of approaches in both solid tumors and hematologic malignancies,” said Peter F. Lebowitz, M.D., Ph.D., Global Oncology Head, Janssen Research & Development, LLC. “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.”Based in Sweden, Alligator Bioscience is a privately held biotech company focused on developing innovative antibody-based immunotherapies for the treatment of cancer. 

Source: Alligator Bioscience