Modern Biosciences, J&J deal

Modern Biosciences and Johnson & Johnson’s Janssen Biotech Inc. subsidiary partnered to develop Modern Biosciences’ small molecules to treat rheumatoid arthritis. Janssen has an option to license worldwide rights to the products, but Modern Biosciences declined to disclose when the pharma may exercise the option. Modern Biosciences is eligible to receive up to £176 million ($275.3 million), including an upfront payment and regulatory and commercialization milestones. The biotech is also eligible to receive royalties. ...