Johnson & Johnson joins hands with novera to deepen business in Canada

Source: Biovalley, October 16, 2015, October 15, 2015 Earlier, Johnson & Johnson announced that its new R & D center in Toronto, Canada would be officially put into operation in the spring of 2016 But this does not prevent the company from deepening its business in the region in other ways Recently, Johnson & Johnson's Janssen biopharmaceutical division signed a cooperation agreement with novera pharmaceuticals and engene in Canada with a total value of $690 million Through this cooperation, Johnson & Johnson hopes to strengthen the research in the fields of tumor and inflammatory enteritis In the agreement, J & J promised to pay Novara an unknown advance and a milestone bonus of up to $348 million in exchange for the global marketing rights of several small molecular drugs for leukemia These drugs are developed by novera and Ontario Cancer Research Center in Canada for the treatment of refractory malignant leukemia The strong addition of Johnson & Johnson will undoubtedly provide valuable experience for this drug to accelerate its clinical application In partnership with engene, Johnson & Johnson will pay a milestone bonus of up to $340 million to the former in exchange for the company's EG-12, an inflammatory enteritis drug Both parties agree that if the drug can complete the concept validation study, Johnson & Johnson has the right to obtain the full copyright of the drug In addition, engene agreed to authorize Johnson & Johnson to use its unique gene delivery technology for another unpublished target study Just a month ago, Johnson & Johnson announced that it would set up a 40000 square foot biotechnology incubator in Toronto This is also part of the efforts of Toronto, Canada, to build a world-famous biomedical R & D center following the example of San Francisco, San Diego and Boston.