On June 1, 2022 Hangzhou DAC Biotechnology Co., Ltd. ("DAC Biotechnology") reported a collaboration and license agreement with Janssen Biotech, Inc., one of the Janssen Pharmaceutical Companies of Johnson & Johnson ("Janssen") (Press release, Hangzhou DAC Biotech, JUN 1, 2022, View Source [SID1234618939]). Under the terms of the agreement, DAC Biotechnology will apply its innovative and proprietary antibody drug conjugate (ADC) platform to Janssen’s proprietary antibodies with the aim to develop novel ADC products against up to five targets. The negotiation and finalization of the agreement was facilitated by Johnson & Johnson Innovation. DAC Biotechnology has also received an equity investment from Johnson & Johnson Innovation – JJDC, Inc.
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"We are very proud to mark this important collaboration with Janssen," said Dr. Robert Yongxin Zhao, President and Chief Executive Officer of DAC Biotechnology. "After years of dedicated research and development, DAC technology has become a key player in the field of ADC innovation. Our advanced ADC platform, with abundant reserve of payload/linker pairs, conjugation technologies and CMC capabilities, enables us to build a deep pipeline of products, many of them being first-in-class ADCs. We are committed to bringing safe and efficacious medicines not only to patients in China, but also those around the world."
"The collaboration with Janssen is the very first collaboration milestone in our global roadmap. The combination of the license agreement and equity investment creates an exciting approach to progressing novel therapeutic innovations in overseas markets," Dr. Zhao continues.
With the aim to discover novel ADC products via license collaboration, DAC Biotechnology will fully leverage its intellectual properties and proprietary ADC platform, while Janssen will provide its expertise in proprietary antibodies, clinical development and global commercialization. Through the collaboration agreement, DAC Biotechnology is eligible to receive an upfront payment, cost reimbursement and milestone payments, plus royalties on worldwide sales for each selected product.