Johnson & Johnson has signed a deal with Protagonist Therapeutics to co-develop and commercialize PTG-200 for inflammatory bowel disease. The worldwide agreement includes a $50 million upfront investment with milestones worth up to $940 million. J&J will get exclusive worldwide licensing rights to Protagonist’s PTG-200.
Protagonist has the drug slated to go into a Phase I trial with healthy patients and then will shift to an IBD study. Protagonist and J&J will then move to co-development through Phase II, but give J&J rights to carry it on from there while Protagonist will still co-detail marketing rights in the United States.
According to an 8-K filing, J&J is paying 80 percent of the development costs.
Read the Reuters brief