Janssen affiliate and Dutch company ink $1.6B deal to develop cancer drug

Dec. 3, 2018

Cilag, an affiliate of Janssen, is teaming up with a Netherlands-based biopharma company called Argenx to develop a treatment for certain cancers. 

The drug, Cusatuzumab, is already being tested on patients with acute myeloid leukemia. Under the deal, the companies will work on developing the treatment for a range of blood cancers and other hematological illnesses. 

Argenx specializes in antibody-based therapies for autoimmune diseases and cancer. Under the deal, Janssen will pay Argenx $300 million in cash and Johnson & Johnson Innovation will invest $200 million in the company. Argenx will be able to co-promote Cusatuzumab in the U.S. and then split the worldwide sales with Cilag. Pending certain milestones, the deal could be worth up to $1.6 billion. 

Read the full Reuters report.