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Amgen today announced that it has licensed a clinical stage molecule for the treatment of chronic and neuropathic pain to Ortho-McNeil-Janssen Pharmaceuticals, Inc. (OMJPI), a Johnson & Johnson company
THOUSAND OAKS, CA, USA | July 31, 2008 | Amgen (NASDAQ: AMGN) today announced that it has licensed a clinical stage molecule for the treatment of chronic and neuropathic pain to Ortho-McNeil-Janssen Pharmaceuticals, Inc. (OMJPI), a Johnson & Johnson company. The terms of the agreement include a $50 million upfront payment, the potential for $385 million in success-based milestones and additional sales based milestones and royalties on sales.
The agreement provides OMJPI with global rights to the product, but excludes Japan where Amgen has entered into a previous license agreement with respect to the compound. OMJPI and its affiliates will be responsible for future development and commercialization of the compound, a fully human anti-nerve growth factor (NGF) antibody.
"OMJPI's proven capabilities in developing and marketing pain therapeutics make them an ideal partner to bring this potentially important molecule to patients who suffer chronic pain," said Roger M. Perlmutter, M.D., Ph.D., Amgen's executive vice president of Research and Development.
The agreement is subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act.
About Amgen
Amgen discovers, develops, manufactures and delivers innovative human therapeutics. A biotechnology pioneer since 1980, Amgen was one of the first companies to realize the new science's promise by bringing safe and effective medicines from lab, to manufacturing plant, to patient. Amgen therapeutics have changed the practice of medicine, helping millions of people around the world in the fight against cancer, kidney disease, rheumatoid arthritis and other serious illnesses. With a deep and broad pipeline of potential new medicines, Amgen remains committed to advancing science to dramatically improve people's lives. To learn more about our pioneering science and our vital medicines, visit www.amgen.com.
SOURCE: Amgen |
