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The company entered a collaboration with Protagonist to develop, manufacture, and commercialize PTG-200.
On May 30, 2017 Janssen Pharmaceutical Companies, a subsidiary of Johnson & Johnson, announced that it has entered into a worldwide exclusive license and collaboration agreement with Protagonist Therapeutics, Inc. to develop, manufacture, and commercialize PTG-200, an oral interleukin-23 receptor (IL-23R) antagonist drug candidate in development for the treatment of Crohn’s disease and ulcerative colitis.
Under the terms of the agreement, Protagonist will receive a $50 million upfront payment and potentially up to an additional $940 million in development and sales milestones. If PTG-200 is commercialized, Protagonist would be eligible to receive royalties on net sales and will also have the option to co-detail in the US.
PTG-200 is currently in Investigational New Drug (IND) enabling studies, and the initiation of a Phase I clinical trial is planned in 2017.The transaction is expected to close in the third quarter of 2017.