Janssen licenses Vedanta's microbiome candidate for IBD
Microbiome company Vedanta Biosciences Inc. (Boston, Mass.) granted the Janssen Biotech Inc. subsidiary of Johnson & Johnson (NYSE:JNJ) an exclusive, worldwide license to develop and commercialize microbiome therapy VE-202 to treat inflammatory bowel disease (IBD). The deal expands a June 2013 collaboration between Vedanta and J&J's Boston Innovation Center. J&J's venture arm, Johnson & Johnson Development Corp. (JJDC), invested in Vedanta at the time (see BioCentury Extra, July 1, 2013).
Under the new deal, Vedanta is eligible to receive up to $241 million, including an undisclosed upfront payment plus development and commercialization milestones. Janssen also has the option to develop and commercialize the candidate in additional indications under similar terms. ...