Phenex in up to $135 million research collaboration with Janssen

Privately-held German drug discovery firm Phenex Pharmaceuticals has entered into an agreement with Janssen Biotech, a subsidiary of US health care giant Johnson & Johnson (NYSE: JNJ) and its affiliates (Janssen) to jointly discover compounds that target the nuclear hormone receptor RORγT and may have utility in the treatment of chronic autoimmune and inflammatory disorders including rheumatoid arthritis, psoriasis, and inflammatory bowel disease.

Under the terms of the deal, Phenex will receive an upfront payment and milestone payments on the achievement of specific development and regulatory events that could total as much as $135 million. In addition, Phenex will be eligible to receive tiered royalties and milestones on the worldwide sales of products that arise from the collaboration.

Researchers from Phenex and Janssen will work collaboratively towards the goal of identifying compounds that are active against RORγT and optimized for preclinical development. Thereafter, Janssen will have sole responsibility for the continued development and worldwide commercialization of any compounds that arise from the collaboration.