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Sevion Therapeutics Inc. ("Sevion" or the "Company") (OTCQB:SVON), a biopharmaceutical company which discovers, develops and acquires next-generation biologics, today announced a collaboration agreement with CNA Development, LLC, an affiliate of Janssen Pharmaceuticals, Inc. (Janssen) 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. Sevion and Janssen will jointly conduct research on antibodies discovered by Sevion, and Janssen will have an option to an exclusive license to develop, manufacture, and commercialize candidates resulting from the collaboration.

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 totaling up to $125 million as well as low single digit royalties on product sales.