Pharmacyclics (PCYC) Enters PCI-32765 Collaboration w/ J&J (JNJ) Unit; to Get $150M Upfront
Tweet
Share
E-mailGet Alerts PCYC Hot Sheet
Join SI Premium – FREE
Pharmacyclics, Inc. (Nasdaq: PCYC), has entered into a worldwide collaboration with Janssen Biotech, Inc., one of the Janssen Pharmaceutical Companies of Johnson & Johnson (NYSE: JNJ), to develop and commercialize PCI-32765, a novel, oral, first-in-class Bruton's tyrosine kinase (Btk) inhibitor being developed for the treatment of Non Hodgkin's Lymphoma, Chronic Lymphocytic Leukemia and Multiple Myeloma, all of which are considered hematological malignancies. PCI-32765 was developed by Pharmacyclics and is currently in Phase II clinical trials.
Under the terms of the agreement, Pharmacyclics will receive an upfront payment of $150 million. In addition, Pharmacyclics will receive up to an additional $825 million in development and regulatory milestone payments, based upon continued development, regulatory progress and approval of the product, for total potential upfront and milestone payments of $975 million.
Under the terms of the agreement, Pharmacyclics will receive an upfront payment of $150 million. In addition, Pharmacyclics will receive up to an additional $825 million in development and regulatory milestone payments, based upon continued development, regulatory progress and approval of the product, for total potential upfront and milestone payments of $975 million.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Piper Sandler: PFA survey is most positive for Medtronic, Inc. (MDT)
- Exchange Bank declares Q3 dividend, CEO to retire in 2027
- AEVEX wins $41M U.S. government contract for one-way attack systems
Create E-mail Alert Related Categories
Corporate News, FDASign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
