Date: 2017-02-13
Type of information: Licensing agreement
Compound: HIF-targeting product candidates including AKB-5169 (formerly JNJ5169)
Company: Akebia Therapeutics (USA - MA) Janssen Pharmaceutica, a J&J company (USA - NJ)
Therapeutic area: Inflammatory diseases - Gastrointestinal diseases
Type agreement: licensing
Action mechanism: hypoxia-inducible factor (HIF) stabilizer
Disease: inflammatory bowel disease
Details: * On February 13, 2017, Akebia Therapeutics announced that it has entered into an exclusive agreement with Janssen Pharmaceutica to license HIF (hypoxia inductible factor)-targeting product candidates. The portfolio includes AKB-5169 (formerly JNJ5169). Akebia obtains worldwide rights to this candidate currently in preclinical development for the treatment of inflammatory bowel disease. Preclinical data have shown that AKB-5169 may be highly differentiated from standard of care systemic therapies in its potential to reduce inflammation and promote mucosal healing at the site of disease. The company plans to conduct additional preclinical studies of AKB-5169 and submit an Investigational New Drug (IND) application to the FDA in the next 12-18 months. The agreement, facilitated by Johnson & Johnson Innovation, also provides Akebia with access to an extensive proprietary library of well-characterized HIF pathway compounds with potential applications across multiple therapeutic areas.
Financial terms: Under the terms of the multi-year research agreement, Akebia will pay Janssen $1.0 million in cash to access their collection of hundreds of HIF-targeted compounds and associated intellectual property. In connection with the Research and License Agreement, Johnson & Johnson Innovation (JJDC) has an opportunity to take an ownership interest in Akebia through a Common Stock Purchase Warrant issued by Akebia to JJDC for 509,611 shares of Akebia's common stock. The Warrant is exercisable by JJDC, in whole or in part, at any time prior to the fifth anniversary of the date of issuance with a payment to Akebia of up to $5.0 million.
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