Has anyone else seen this, will prove to be very positive news for Advaxis as it think other large pharma may take notice as Advaxis technology is superior than Aduro;
Aduro Announces License Agreement with Johnson & Johnson Innovation for Novel Immunotherapies for Prostate Cancer
May 29, 2014 08:00 AM Eastern Daylight Time
BERKELEY, Calif.--(BUSINESS WIRE)--Aduro BioTech, Inc., a clinical-stage biotechnology company, today announced that it has entered into an agreement granting Janssen Biotech, Inc. (Janssen) an exclusive, worldwide license to certain product candidates specifically engineered for the treatment of prostate cancer based on its novel LADD immunotherapy platform. Under the agreement, facilitated by the Johnson & Johnson Innovation center in California, Aduro is eligible to receive up to $365 million in upfront license fees and milestone payments upon achievement of defined development, regulatory and commercialization milestones, if multiple programs advance to commercialization, as well as tiered royalties on worldwide net sales.
“We are pleased to provide Janssen with novel immunotherapies engineered specifically for this indication”
Janssen will assume responsibility for all research, development, manufacturing, regulatory and commercialization activities for the licensed products. Under a separate agreement, Aduro has granted Janssen exclusive rights to Aduro’s GVAX technology for prostate cancer.
“We are pleased to provide Janssen with novel immunotherapies engineered specifically for this indication,” said Stephen T. Isaacs, chairman, president and chief executive officer of Aduro. “We believe this is an important validation of our platform strategy and we are excited to have the Janssen development team taking the lead in advancing the prostate cancer program. Separately, we look forward to continued progress with our LADD platform in a broad array of other oncology indications, including pancreatic cancer, mesothelioma, non-small cell lung cancer and glioblastoma among others.”
