Geron and Janssen part ways over imetelstat
US biotech Geron (Nasdaq: GERN) has been handed back rights to its elomerase inhibitor, imetelstat, from erstwhile partner Johnson & Johnson (NYSE: JNJ), knocking nearly three quarters off the value of its share price.
In 2014, the firms entered into an exclusive worldwide license and collaboration agreement for oncology, including hematologic malignancies, worth a possible $935 million to Geron.
J&J’s pharma arm, Janssen, says it will now work with Geron to transition the imetelstat program back to the company. The decision was said to be the result of “a strategic portfolio evaluation and prioritization of assets.”
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