Johnson & Johnson to acquire 18% stake in Crucell and collaborate on MAbs and vaccines

28 September 2009

US health care major Johnson & Johnson, through its subsidiary Ortho-McNeil-Janssen Pharmaceuticals, has entered into a strategic collaboration with Netherlands-based Crucell focusing on the discovery, development and commercialization of monoclonal antibodies and vaccines for the treatment and prevention of influenza and other infectious and non-infectious diseases.

Additionally, through its affiliate JHC Nederland, J&J has also purchased 14.6 million newly issued ordinary shares of Crucell, representing around18% of Crucell's outstanding ordinary shares, for an aggregate purchase price of 301.8 million euros ($443.3 million). Also, the companies have agreed to development milestones and royalty payments based on the successful development and commercialization of products in connection with the collaboration.

Shares in Crucell were up 4% to 16.585 euros at 07.50 GMTon September 28,
outperforming a 1.1% fall in the Amsterdam midcap index, says Reuters 'This collaboration is a good deal for Crucell. Although the drug is still in a very early stage, Crucell would not have been able to support the expensive late clinical trials on its own," noted SNS Securities analyst Ilja Zaanen, reported by the news service.

The immediate focus of the collaboration will be the development and commercialization of a universal monoclonal antibody product (flu-MAb) for the treatment and prevention of influenza. The long-term innovation collaboration will be on new discovery programs leading to the development and commercialization of a universal influenza vaccine as well as the development of monoclonal antibodies and/or vaccines directed against up to three other infectious and non-infectious disease targets.

Under the flu-mAb collaboration, Crucell and Ortho-McNeil-Janssen Pharmaceuticals or its affiliates will share responsibilities to develop a universal flu-mAb product targeting all influenza A strains, including H1N1 strains (which cause seasonal flu and the current pandemic) and the H5N1 or avian strain. Crucell will be responsible for R&D through Phase IIa of the influenza antibodies it has already discovered, as well as newly discovered influenza antibodies that emerge from the collaboration. Ortho-McNeil-Janssen Pharmaceuticals or its affiliates will be responsible for late-stage development of the flu-mAb product from Phase Ilb onward.

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