Janssen buys Germany's CorImmun
US health care giant Johnson & Johnson’s (NYSE: JNJ) European subsidiary Janssen-Cilag GmbH yesterday announced it has completed the acquisition of CorImmun GmbH, a privately held drug development company in Germany, for an undisclosed upfront payment and a contingent future clinical milestone payment.
CorImmun's lead compound, COR-1, is a small cyclic peptide currently in early clinical development for the treatment of heart failure. COR-1 has been shown in preclinical studies to improve heart function by decreasing autoimmune, beta 1 receptor-simulating antibody effects. Under terms of the agreement, Janssen and its affiliates immediately assume full development and global commercialization responsibilities for the compound.
Heart failure is generally a progressive disease characterized by the heart muscle's inability to adequately pump oxygenated blood through the body. An estimated 23 million people around the globe have been diagnosed with heart failure, a number that is projected to increase. For most causes of heart failure, there is no known cure.
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