Janssen Acquires XO1 Limited
19 Mar, 2015, 08:00 GMT
-- Investigational Anti-thrombin Antibody Ichorcumab Strengthens Cardiovascular Disease Portfolio
RARITAN, New Jersey, March 19, 2015 /PRNewswire/ -- Janssen Pharmaceuticals, Inc. (Janssen), one of the Janssen Pharmaceutical Companies of Johnson & Johnson, announced today that it has acquired XO1 Limited, a privately held asset-centric virtual biopharmaceutical company founded to develop the anti-thrombin antibody ichorcumab. Financial terms of the transaction have not been disclosed.
Ichorcumab is a recombinant human antibody developed to mimic the activity of a human antibody which appears to produce an anticoagulated state without predisposition to bleeding.
"Ichorcumab provides an excellent complement to the Janssen cardiovascular portfolio," said Peter DiBattiste, M.D., Global Development Head, Cardiovascular, Janssen Research & Development, LLC. "Given Janssen's leadership in the fields of anticoagulation and biologics, we are well positioned to explore the potential of this next generation anticoagulant."
The opportunity was identified and facilitated through Johnson & Johnson Innovation, London. "This acquisition illustrates how our global innovation strategy enables a local, hands-on approach that supports the regional life science ecosystems, provides Janssen a window on the most exciting science around the world and provides access to potentially breakthrough products in areas of strategic interest," said Patrick Verheyen, Head, Johnson & Johnson Innovation, London.
Ichorcumab was initially developed by Cambridge University Hospitals and Cambridge University with support from Cambridge Enterprise, the University's commercialization arm. The technology was licensed by Cambridge Enterprise to XO1 Limited in order to take its development towards the clinic. XO1 Limited was established by Index Ventures as an asset centric company, a model advanced by Index, via a fund launched in 2012 in which Johnson & Johnson Innovation – JJDC, Inc. is an investor.
About the Janssen Pharmaceutical Companies of Johnson & Johnson
The Janssen Pharmaceutical Companies of Johnson & Johnson are dedicated to addressing and solving the most important unmet medical needs of our time, including cardiovascular and metabolic diseases (e.g., diabetes and thrombosis), immunology (e.g., rheumatoid arthritis, inflammatory bowel disease and psoriasis), infectious disease (e.g., HIV/AIDS, Hepatitis C and tuberculosis), neuroscience (e.g., schizophrenia, dementia and pain) and oncology (e.g., multiple myeloma and prostate cancer).
Driven by our commitment to patients, we develop sustainable, integrated healthcare solutions by working side-by-side with healthcare stakeholders, based on partnerships of trust and transparency. To learn more, visit www.janssen.com.
About Johnson & Johnson Innovation
Johnson & Johnson Innovation Limited focuses on accelerating early-stage innovation worldwide and forming collaborations between entrepreneurs and Johnson & Johnson's global healthcare businesses. Johnson & Johnson Innovation provides scientists, entrepreneurs and emerging companies one-stop access to science and technology experts who can facilitate collaborations across the pharmaceutical, medical device and consumer companies of Johnson & Johnson. Johnson & Johnson Innovation includes local deal-making capabilities with the flexibility to adapt deal structures to match early-stage opportunities and establish novel collaborations that speed development of innovations to solve unmet needs in patients. For more information please visit: www.jnjinnovation.com.
Note on Forward-Looking Statements
This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 related to the acquisition of XO1 Limited and development of ichorcumab. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Janssen Pharmaceuticals, Inc., Janssen Research & Development, LLC, Johnson & Johnson Innovation Limited, and/or Johnson & Johnson. Risks and uncertainties include, but are not limited to: challenges related to integrating the operations and clinical work of XO1 Limited; the potential that the expected benefits and opportunities related to the transaction may not be realized or may take longer to realize than expected; challenges and uncertainties inherent in new product development, especially at an early stage of the development program, including the uncertainty of clinical success and obtaining regulatory approvals; competition, including technological advances, new products and patents attained by competitors; challenges to patents; changes in behavior and spending patterns or financial distress of purchasers of health care products and services; and global health care reforms and trends toward health care cost containment. A further list and description of these risks, uncertainties and other factors can be found in Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended December 28, 2014, including in Exhibit 99 thereto, and the company's subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. The Janssen Pharmaceutical Companies, Johnson & Johnson Innovation Limited and Johnson & Johnson do not undertake to update any forward-looking statement as a result of new information or future events or developments.
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