Protagonist Therapeutics, Inc. Announces Amendment of Agreement with Janssen Biotech, Inc. for the Continued Development and Commercialization of IL-23 Antagonists
July 28, 2021 at 04:05 pm EDT
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Protagonist Therapeutics, Inc. announced its entry into an amended collaboration agreement (the "Restated Agreement") with Janssen Biotech, Inc., one of the Janssen Pharmaceutical Companies of Johnson & Johnson, relating to research, development, manufacture and commercialization of multiple oral Interleukin (IL)-23 receptor antagonist drug candidates. The compounds currently in development are PTG-200, an oral IL-23 receptor antagonist in Phase 2 development for the treatment of Crohn's disease (CD), and PN-232 and PN-235, two second-generation oral IL-23 receptor antagonist candidates. PN-232 and PN-235 are currently in Phase 1 clinical development. The amended agreement provides for the concurrent development of multiple oral IL-23 receptor antagonists against a broad range of indications. As such, certain development milestones have been reconfigured based on multiple drug candidates advancing in parallel. Protagonist remains eligible to potentially receive approximately $900 million in future development and sales milestones, in addition to the $80 million in payments already received under the original agreement. Royalty rates remain unchanged. Janssen will have the right to continue research on IL-23 receptor antagonists developed during the collaboration for three years from the closing of the Restated Agreement. Under the terms of the Restated Agreement, Janssen will conduct all future studies beyond those that are currently ongoing with PTG-200, PN-232 and PN-235 and will be solely financially responsible for any such studies. Accordingly, Protagonist's development and expense obligations will be limited to its relative share of the currently ongoing studies with these candidates. With this revised agreement, Janssen will continue to deploy the breadth of its established global capabilities and proven experience toward further clinical development of these assets. Janssen retains exclusive, worldwide rights to develop and commercialize PTG-200, PN-232, PN-235 and any other second-generation compounds derived from the research collaboration conducted under the Original Agreement, or Janssen's further research under the Restated Agreement. Protagonist will have the right to co-detail up to two licensed products in ulcerative colitis (UC) and CD in the U.S. market.
Protagonist Therapeutics, Inc. is a biopharmaceutical company. The Company uses its peptide-based chemical entities rusfertide and JNJ-2113 in different stages of development, all derived from its proprietary discovery technology platform. The Companyâs clinical programs fall into two categories of diseases: hematology and blood disorders, and inflammatory and immunomodulatory diseases. Its lead clinical asset, rusfertide (PTG-300), is an injectable hepcidin mimetic in development for the potential treatment of polycythemia vera (PV) and other blood disorders. The Companyâs Interleukin-23 receptor (IL-23R) antagonist compound JNJ-2113 is an orally delivered investigational drug that is designed to block biological pathways targeted by marketed injectable antibody drugs. Its PN-943 is a wholly owned investigational orally delivered gut-restricted alpha 4 beta 7 (α4β7) specific integrin antagonist for inflammatory bowel disease (IBD).
Protagonist Therapeutics, Inc. Announces Amendment of Agreement with Janssen Biotech, Inc. for the Continued Development and Commercialization of IL-23 Antagonists