BioCentury
ARTICLE | Top Story

J&J returns Diamyd rights

June 2, 2011 12:08 AM UTC

Johnson & Johnson (NYSE:JNJ) subsidiary Ortho-McNeil-Janssen Pharmaceuticals Inc. terminated a 2010 deal with Diamyd Medical AB (SSE:DIAM B) and returned rights to diabetes candidate Diamyd. The news sent shares of Diamyd falling SEK1.40 (12%) to SEK10.55 on Wednesday.

In May, the product missed the primary endpoint of preserving beta cell function as measured by meal-stimulated C-peptide levels vs. placebo at 15 months in a European Phase III trial to treat Type I diabetes. Diamyd is also in the U.S. Phase III DiaPrevent trial in newly diagnosed Type I diabetics, with data expected in mid-2012. Diamyd is a recombinant human glutamic acid decarboxylase (GAD65) antigen-based therapy (see BioCentury Extra, May 9). ...