NEW BRUNSWICK (dpa-AFX) - LianBio (LIAN) has inked an agreement with Johnson & Johnson Inc. (JNJ) subsidiary Janssen Pharmaceutica NV., assigning its rights for NBTXR3, an investigational radioenhancer, in China and other Asian markets.
Under the terms of the agreement, Lian has assigned to Janssen its exclusive rights to develop and commercialize NBTXR3 in China, South Korea, Singapore and Thailand. In turn, Lian will receive a one-time payment of $25 million and will be eligible to receive a sales milestone payment of $5 million.
Upon closing of the deal, LianBio will support the transition of the asset to Janssen for a period not longer than six months.
LianBio secured the licensing rights from Nanobiotix for the advancement and commercialization of NBTXR3 across Mainland China, Hong Kong, Macau, Taiwan, Thailand, South Korea, and Singapore in May 2021.
NBTXR3 is currently being tested in several trials across solid tumor indications including NANORAY-312, a global Phase 3 pivotal study in treating patients with locally advanced head and neck cancer.
In pre-market activity, LianBio shares are trading at $4.72, up 4.89% on the Nasdaq. On Friday, JNJ shares closed at $155.46, up 0.40% on the New York Stock exchange.
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