Orion, J&J in Alzheimer's deal

Orion Corp. (HSE:ORNAV; HSE:ORNBV) granted the Janssen Pharmaceuticals Inc. subsidiary of Johnson & Johnson (NYSE:JNJ) exclusive, worldwide development rights and ex-European commercialization rights to Orion's adrenergic receptor alpha 2c ( ADRA2C) antagonists to treat Alzheimer's disease. The deal includes ORM-12741, which has completed a Phase IIa trial, and other undisclosed preclinical compounds. Orion will receive $31 million up front and is eligible for undisclosed milestones, plus royalties. Orion and Janssen will co-fund the development of ORM-12741 after Orion completes an additional Phase IIa trial of the compound. Orion said it can opt in to the development of the other compounds but declined to disclose details. ...