Aveo Forms $15 Million Cancer Deal With J&J Unit

Arlene Weintraub5/31/11

Cambridge-based Aveo Pharmaceuticals (NASDAQ: AVEO) has entered into a licensing deal with Centocor Ortho Biotech, a unit of Johnson & Johnson (NYSE: JNJ), according to a press release. The two companies will work together on Aveo’s antibodies targeting the RON (Recepteur d’Origine Nantais) receptor, which may be involved in regulation of tumor growth, cancer survival and metastasis, and bone disruption. The deal is worth $15 million up front to AVEO, plus up to $540 million in milestone payments and royalties.

Arlene Weintraub is the east coast biotechnology editor and editor of Xconomy New York. She can be reached at aweintraub@xconomy.com. Follow @