Affimed does deal with Janssen, as subsidiary secures funding
German’s privately-owned biopharmaceutical company Affimed Therapeutics has entered into an agreement with Janssen Biotech, a unit of US health care giant Johnson & Johnson (NYSE: JNJ), that grants Janssen the exclusive right to acquire Affimed’s subsidiary Amphivena Therapeutics, following grant of Investigational New Drug status for its lead product candidate on pre-negotiated terms and conditions set forth in the accord.
Janssen will provide Amphivena with an initial upfront payment plus additional contingent payments based on reaching predetermined milestones in return for its rights under the agreement. Further financial terms were not disclosed.
Affimed AG, the therapeutic TandAb antibody company has entered into a license and development agreement with Amphivena to support the discovery and preclinical development of the novel TandAb based therapy.
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