Alligator Bioscience snaps up J&J payment due to cancer antibody progress

22 April 2016

Privately-held Swedish biotech Alligator Bioscience has received a milestone payment from US pharma giant Johnson & Johnson (NYSE: JNJ) over the progress of its immuno-oncology antibody ADC-1013.

Alligator granted J&J an exclusive, worldwide license to ADC-1013 in an agreement entered in August 2015. According to this agreement, J&J subsidiary Janssen will be responsible for developing ADC-1013 and will assume responsibility for the clinical studies once the ongoing sponsored Phase I dose escalation study is completed by Alligator.

There has now been a change made to the protocol to expand the current Phase I study to include a systemic administration arm. This entitles Alligator to a milestone payment of $5 million.

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