Amgen Licenses Molecule for the Treatment of Chronic and Neuropathic Pain to Ortho-McNeil-Janssen Pharmaceuticals, Inc.
THOUSAND OAKS, Calif.--(BUSINESS WIRE)--July 31, 2008--Amgen
(NASDAQ: AMGN) today announced that it has licensed a clinical stage
molecule for the treatment of chronic and neuropathic pain to
Ortho-McNeil-Janssen Pharmaceuticals, Inc. (OMJPI), a Johnson &
Johnson company. The terms of the agreement include a $50 million
upfront payment, the potential for $385 million in success-based
milestones and additional sales based milestones and royalties on
The agreement provides OMJPI with global rights to the product,
but excludes Japan where Amgen has entered into a previous license
agreement with respect to the compound. OMJPI and its affiliates will
be responsible for future development and commercialization of the
compound, a fully human anti-nerve growth factor (NGF) antibody.
"OMJPI's proven capabilities in developing and marketing pain
therapeutics make them an ideal partner to bring this potentially
important molecule to patients who suffer chronic pain," said Roger M.
Perlmutter, M.D., Ph.D., Amgen's executive vice president of Research
The agreement is subject to clearance under the Hart-Scott-Rodino
Antitrust Improvements Act.
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