Metamark Inks Potential $365M Deal with J&J For Cancer Marker Discovery
Cambridge, MA-based Metamark Genetics said today it had entered into a research agreement with Janssen Biotech, a unit of New Brunswick, NJ-based Johnson & Johnson (NYSE: JNJ). Metamark, which was founded in 2007 on science from the Dana-Farber Cancer Institute, is developing prognostic tests based on genes discovered to play a role in how tumors progress and spread.
Metamark and Janssen will work together to validate some of those gene targets. Once targets are chosen for further pursuit, Janssen will be responsible for the development and commercialization of therapies meant to inhibit those genes.
Under the agreement, Metamark will receive an undisclosed up-front payment and will be eligible for up to $365 million in milestone payments.