IP Group plc - Modern Biosciences announces collaboration worth up to £176m with Johnson & Johnson Innovation and Janssen

27 Nov 2014

IP Group plc (LSE: IPO) ("IP Group" or “the Group” or “the Company”), the developer of intellectual property based businesses, is delighted to note that Modern Biosciences plc (“Modern Biosciences” or “MBS”) has entered into an R&D alliance and global option and licence agreement with Janssen Biotech, Inc (“Janssen”) in relation to MBS’ novel bone-protective compounds for the treatment of rheumatoid arthritis (“RA”). The goal of the collaboration, facilitated by the Johnson & Johnson Innovation Centre in London, is to develop new drugs for the treatment of RA.

Under the terms of the exclusive agreement, Modern Biosciences will receive an up-front payment and is eligible to receive development, regulatory and commercialisation milestone payments up to a potential total of £176 million. In addition, MBS will receive royalties on future sales of any products that may result from the alliance upon successful launch and commercialisation.

RA is a severe, painful inflammatory disease that can cause progressive joint and bone erosion and eventually lead to disability. MBS’ compounds work by a novel mechanism of action that targets both the inflammatory component of RA and the associated bone destruction. This approach has the potential to not only protect the joints of people living with RA from further damage but to control the pain and swelling associated with the disease. The most advanced of MBS’ compounds is currently in pre-clinical development and is due to enter Phase 1 clinical studies in 2015.

For more information, please contact: IP Group plc http://www.ipgroupplc.com