Janssen Biotech (Janssen), has announced an exclusive, worldwide license agreement with Alligator Bioscience AB for ADC-1013, an immuno-oncology agent currently in Phase 1 clinical studies. The agreement was facilitated by Johnson & Johnson Innovation, London.

Under terms of the agreement, Janssen will attain rights to develop and commercialize ADC-1013, an agonistic fully human monoclonal antibody. ADC-1013 targets CD40, an immuno-stimulatory receptor found on antigen-presenting cells such as dendritic cells. Stimulating this receptor initiates a process leading to an increase in T cells attacking a tumor.

Alligator Bioscience will receive an upfront payment plus additional milestone payments contingent upon reaching certain pre-determined development, regulatory and commercial milestones. Alligator Bioscience will complete the current Phase 1 dose escalation study and Janssen will be responsible for all subsequent development of ADC-1013, including research, development, manufacturing, regulatory and commercialization activities. In a separate transaction, Johnson & Johnson Innovation - JJDC, Inc. will subscribe for new shares of Alligator stock.

"ADC-1013 is a great addition to our growing immuno-oncology portfolio, which includes a broad range of approaches in both solid tumors and hematologic malignancies," said Dr Peter F Lebowitz, Global Oncology Head, Janssen Research and Development. He added, "We were very impressed with the properties of this antibody and we are excited to continue the development that will ultimately deliver it to patients."

Based in Sweden, Alligator Bioscience is a privately held biotech company focused on developing innovative antibody-based immunotherapies for the treatment of cancer.

The closing is subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act.