Sevion will receive an up-front payment and research support payments for activities conducted in collaboration with Janssen
Sevion Therapeutics has announced a collaboration agreement with CNA Development, LLC, an affiliate of Janssen Pharmaceuticals to discover antibodies using Sevion's spatially addressed library platform. The collaboration facilitated by the Johnson & Johnson Innovation center in California will include discovery of antibodies against multiple targets in several therapeutic areas.
Under the terms of the agreement, Sevion will receive an up-front payment and research support payments for activities conducted in collaboration with Janssen. For candidates licensed by Janssen, Sevion would be eligible to receive payments upon the achievement of certain development and commercial milestones potentially up to $125 million as well as low single digit royalties on product sales.
According to Mr Ronald Martell, CEO, Sevion, "We are excited to collaborate with Janssen, a recognized leader in antibody development and commercialization. This partnership applies the Sevion platform for discovering unique antibodies against important therapeutic targets."
Sevion's platform enables discovery of antibodies against proteins that cannot be easily purified in functional form. Sevion's addressed libraries allow screening directly on the cell surface, opening difficult transmembrane targets to antibody discovery.