ARTICLE | Company News

Janssen licenses Geron's imetelstat

November 15, 2014 3:21 AM UTC

Geron Corp. (NASDAQ:GERN) gained $0.45 (19%) to $2.76 on Friday after it granted the Janssen Biotech Inc. unit of Johnson & Johnson (NYSE:JNJ) exclusive, worldwide rights to develop and commercialize imetelstat, an oligonucleotide that competitively inhibits telomerase activity. The deal was announced after market close on Thursday.

Geron will receive $35 million upfront and is eligible for up to $900 million in milestones, plus royalties. The companies will split evenly the costs of Phase II studies in myelofibrosis and myelodysplastic syndrome (MDS). ...