Aragon Pharmaceuticals, Inc. Announces Closing of Its Acquisition by Johnson & Johnson
Seragon Pharmaceuticals Inc. Launched, Focused on Selective Estrogen Receptor Degrader Platform (SERD)
(firmenpresse) - SAN DIEGO, CA -- (Marketwired) -- 08/19/13 -- Aragon Pharmaceuticals, Inc. (Aragon), a leader in developing drugs for hormone-driven cancers, today announced the closing of its acquisition by Johnson & Johnson. Deal terms included an upfront payment of $650 million in cash with an additional $350 million in potential development milestone payments for a total transaction value of up to $1 billion. The acquisition includes Aragon's androgen receptor antagonist program, including its most advanced compound, ARN-509, a second generation androgen receptor signaling inhibitor that is currently being evaluated in a Phase II trial in patients with castration-resistant prostate cancer.
In conjunction with this acquisition a newly formed corporation called Seragon Pharmaceuticals Inc., which is focused on Aragon's Selective Estrogen Receptor Degrader (SERD) platform, has been spun out of Aragon. Johnson & Johnson does not have an ownership stake in Seragon and does not retain any rights to Seragon's technology or product development pipeline.
For further information on Seragon, please contact:
Susanne Whittenberg
Seragon Pharmaceuticals Inc.
(858) 369-7646
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Datum: 19.08.2013 - 14:30 Uhr
Sprache: Deutsch
News-ID 1255978
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