Janssen in global licensing deal with Tesaro
Janssen Biotech, a subsidiary of US health care giant Johnson & Johnson (NYSE: JNJ), has entered a worldwide collaboration and license agreement with Tesaro (Nasdaq: TSRO) for exclusive rights to the investigational compound niraparib in prostate cancer.
Niraparib is an orally administered poly polymerase (PARP) inhibitor, currently in late-stage development for patients with metastatic breast cancer and ovarian cancer. Tesaro’s shares gained 6.9% to $45.74 by mid-morning trading today following the announcement of the deal
According to terms of the license agreement and collaboration arrangement, Janssen will have global rights and be responsible for all development and commercialization activities for niraparib for use in prostate cancer, except in Japan. Oncology-focussed US biotech Tesaro will maintain global development, manufacturing and commercial rights for all other indications.
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