J&J bails on Geron cancer drug

Sep 27, 2018

Johnson & Johnson's Janssen Biotech will end a licensing partnership with Geron Corp., returning rights to the biotech’s sole product candidate, imetelstat.

Janssen had entered into the agreement in 2014 with California-based Geron to develop and commercialize imetelstat in oncology, including hematologic myeloid malignancies.

According to Janssen’s press release, the decision not to continue the collaboration is the “result of a strategic portfolio evaluation and prioritization of assets within the robust Janssen portfolio.”

Bloomberg reports that the move wiped out $750 million in market value for Geron.

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