Elektrofi, Janssen Biotech enter collaboration, license agreement

Elektrofi has entered a multi-target worldwide research collaboration and license agreement with Janssen Biotech, a Johnson & Johnson company. This collaboration will initially focus on developing an at home self-administered subcutaneous version of a lead oncology asset. The agreement was facilitated by Johnson & Johnson Innovation. Under the terms of the agreement, Elektrofi will receive an upfront payment of $18 million in exchange for Janssen receiving the exclusive right to a lead Janssen oncology target and up to four additional targets. Elektrofi will be eligible to receive future milestones surpassing $155 million per target, subject to achieving developmental, regulatory, and sales-based milestones, as well as a tiered upper mid-single digit royalty on global net sales for commercialized products. Janssen will be responsible for each product’s clinical development and commercialization. The strategic partnership with Janssen further expands the use of Elektrofi’s innovative formulation technology platform. Through its collaborations with leading pharmaceutical companies, Elektrofi has the potential to develop up to 12 unique products with its partners.