Nuevolution Announces Further Technology Access Fee Payment from Its Drug Discovery Collaboration with Janssen
Stockholm, 6 March 2017 . Nuevolution AB (publ) (NUE.ST) today announced that Janssen Biotech, Inc. (Janssen), one of the Pharmaceutical Companies of Johnson & Johnson, has used its option to expand the collaboration with Nuevolution, thereby providing Nuevolution with a technology access fee payment of 600,000 USD (SEK 5.45 million).
Nuevolution A/S and Janssen entered into collaboration on 19 October 2015 for application of Nuevolution’s proprietary Chemetics® drug discovery platform against biological disease targets of interest to Janssen Biotech.
Under the terms of the collaboration agreement, the expansion of the collaboration to include one or more further targets, entitles Nuevolution to receive a technology access fee payment and research funding on a per target basis. In addition, Nuevolution is eligible to receive milestone payments if specified research, development and commercial milestones are achieved. If products are commercialized as a result of the collaboration, Nuevolution will also be entitled to receive certain royalty payments on net-sale of those products.
For more information, please contact:
Alex Haahr Gouliaev, CEO
Phone: +45 7020 0987
Henrik D. Simonsen, CFO
Phone: +45 3913 0947
Nuevolution AB (publ) is a leading small molecule drug discovery biotech company founded in 2001, headquartered in Copenhagen, Denmark. Nuevolution partners its proprietary discovery platform and programs with pharmaceutical and biotechnology companies to seek future benefit for patients in need of novel medical treatment options. Nuevolution’s internal programs are focused on therapeutically important targets within inflammation, oncology and immuno-oncology.
This information is information that Nuevolution AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was sent for publication, through the agency of the contact persons set out above, on Monday 6 March 2017, 8:30 CET.
Nuevolution AB (publ) is listed at Nasdaq First North Premier in Stockholm, Sweden (ticker: NUE.ST). Redeye AB acts as Certified Adviser to Nuevolution AB (publ). More information about Nuevolution can be found at: www.nuevolution.com .