Mersana Therapeutics Inc (NASDAQ:MRSN) has announced a research collaboration and license agreement with Janssen Biotech Inc, a unit of Johnson & Johnson (NYSE:JNJ), to discover antibody-drug conjugates (ADCs) for three targets.
- Janssen unit is doling out $40 million upfront and more than $1 billion in potential milestone payments for ADCs spanning three targets.
- The pair will work together to research target candidates during preclinical development. J&J's biotech unit will provide proprietary antibodies, and Mersana will contribute its Dolasynthen platform to help find the new ADC product candidates.
- After preclinical work is completed, Janssen will handle the therapies' clinical development and commercialization. Mersana will receive mid-single-digit to low-double-digit percentage royalties on global sales should any of them reach the market.
- Mersana's lead ADC, upifitamab rilsodotin, is currently being tested in a Phase 3 trial as maintenance therapy for recurrent, platinum-sensitive ovarian cancer.
- Related: Why Are Mersana Therapeutics Shares Trading Lower On Friday?.
- Price Action: MRSN shares are up 2.10% at $4.38 during the market session on the last check Thursday.
