Metamark could earn over $365 million from Janssen deal

Privately-held US firm Metamark Genetics has entered into a research, collaboration and license agreement with Janssen Biotech, marking a second oncology-related deal for this subsidiary of US health care major Johnson & Johnson (NYSE: JNJ). This latest deal is based on Metamark's discovery platform for the identification and characterization of specific proprietary cancer targets demonstrated to play a causal role in promoting tumor progression and spread (Prognosis Determinants).

Under the terms of the accord, Metamark will receive an initial, undisclosed upfront payment from Janssen, as well as near-term milestones following initial target validation. Additionally, Metamark may be eligible to receive up to $365 million in milestone payments across multiple targets, based on the achievement of specified development, regulatory, and commercialization goals. Metamark will also be entitled to royalties on worldwide net sales of therapeutics and any associated companion diagnostics upon commercialization.

The collaboration will focus on the evaluation and validation of several of Metamark's Prognosis Determinants. On selection of the targets, Janssen will receive a limited exclusive license under Metamark's intellectual property and know-how and will thereafter be responsible for the discovery, development, and commercialization of therapeutic inhibitors targeting the specific Prognosis Determinants.