Janssen has also signed a supply agreement with XBiotech to produce clinical supplies of bermekimab, using its advanced manufacturing technology
Image: Janssen Biotech to acquire XBiotech’s all rights to bermekimab. Photo: Courtesy of Vberger/Wikipedia.
Janssen Biotech, a company of Johnson & Johnson, has signed an agreement to acquire all rights to bermekimab, an investigational antibody developed by XBiotech, for up to $1.35bn.
Janssen has agreed to purchase the rights to bermekimab for a purchase price of $750m, and may also pay up to $600m in additional payments, pursuant to the receipt of certain commercialisation authorisations.
Janssen Research & Development immunology therapeutic area head David Lee said: “Janssen is a world leader in immunology, and we are particularly proud of our long legacy of helping patients with dermatological disease, including psoriasis.
“The acquisition of bermekimab allows us to build on our expertise in immuno-dermatology, while expanding to atopic dermatitis and hidradenitis suppurativa, immune-mediated disease areas that have incredible unmet need.”
Bermekimab is claimed to be the only IL-1a targeting antibody currently under clinical development
The company said that bermekimab is an anti-IL-1alpha monoclonal antibody (mAb), under Phase 2 development for the treatment of atopic dermatitis and hidradenitis suppurativa.
Also, bermekimab is claimed to be the only IL-1a targeting antibody currently under clinical development and is set to have superior efficacy and safety capabilities compared to the current standard of care.
Under terms of the agreement, Janssen will work closely with XBiotech for completing two Phase 2 development studies in atopic dermatitis and hidradenitis suppurativa and take responsibility for the clinical program.
Besides, Janssen has signed a supply agreement with XBiotech to produce clinical supplies of bermekimab, using advanced its manufacturing technology.
Janssen said that the transaction is subject to customary closing conditions, including approval under the Hart-Scott-Rodino (HSR) Antitrust Improvements Act. The deal is expected to the closed after HSR approval.
XBiotech is expected to use the proceeds partly to fund the discovery and development of its next-generation True Human anti-IL-1⍺ antibody program, and partly to advance other antibody therapeutics in the pipeline.
XBiotech president and CEO John Simard said: “We are proud that Janssen has chosen bermekimab as an agent it believes could have an important impact. We believe their acquisition will enable recognition and increase awareness of the full potential of this first-in-class therapeutic.
“This transaction also provides us the opportunity to showcase our powerful True Human antibody discovery platform, which we are now utilizing to pursue next generation anti-Il-1⍺ antibody therapeutics to treat multiple areas of unmet need outside of dermatology.”