|Janssen gets into a Worldwide Collaboration with Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) for combating Hepatitis C Virus|
|By Josh Gee|
|Wednesday, 20 May 2015 13:59|
Janssen Pharmaceuticals has confirmed entering into exclusive worldwide license as well as collaboration arrangement with Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) for developing and commercializing Achillion's lead hepatitis C virus assets.
The assets include ACH-3102, ACH-3422 and sovaprevir. One of the main purposes would be developing short-duration, highly effective and oral regimen for treating HCV.
The starting schedule would be exploring Achillion's ACH-3102, an NS5A inhibitor that is in Phase 2 clinical studies and has been given Fast Track designation by U.S. Food and Drug Administration along with a NS3/4A HCV protease inhibitor and NS5B HCV polymerase inhibitor from the collaboration.
Lawrence M. Blatt, Ph.D., global therapeutic area head, Janssen Infectious Diseases and Vaccines, and president and chief executive officer of Alios BioPharma, opined that even though there were advances in the treatment, there are unfulfilled needs for addressing burden that hepatitis C puts on both society and patients.
He added that the firm is committed on optimising results as well as new partnerships with Achillion offering a chance to develop simplified treatment option for patients hit by hepatitis C.
Achillion would be granting Janssen a worldwide license for developing and commercializing HCV products as well as regimens with one or more of the licensed HCV assets. The company can get milestone payments depending on achievement of specified development as well as sales milestones and royalties on future worldwide sales.
Additionally, Johnson & Johnson Innovation would be making an equity investment in Achillion. The goal of Janssen hepatitis C virus (HCV) clinical development program is to give physicians with multiple treatment options for offering patients best possible chance at successful therapy.
However, shares of ACHN slumped 13.50% to $9.24.