Janssen Biotech announced partnership with Pharmacyclics for PCI-32765

Janssen Biotech announced today that it has negotiated an agreement with Pharmacyclics to develop and market PCI-32765, an anti-cancer compound. Janssen Biotech, a Janssen Pharmaceutical Company of Johnson and Johnson, has already completed a $150 million upfront payment and will continue to make payments with the predicted success of the compound; these payments are to be recorded in the fourth quarter. Based on  the terms of agreement, both of the companies have entered into a global 50/50 profit-loss agreement, sharing development and commercialization activities. There are a number of ongoing Phase 1 and Phase 2 studies with PCI-32765 across a panel of disorders related to B-Cell Malignancy . The results of the phase two studies are to be presented at the American Society of Hematology Meeting coming later this month.

SOURCE: Johnson and Johnson Press Release

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