Elektrofi and Janssen Biotech, a Johnson & Johnson Company Enter Agreement to Exclusively Develop up to Five Programs Utilizing Elektrofi's Formulation Technology, Elektrofi To Receive An Upfront Of $18M And Future Milestones Surpassing $155M Per Target
Portfolio Pulse from Benzinga Newsdesk
Elektrofi has entered into an exclusive agreement with Janssen Biotech, a subsidiary of Johnson & Johnson, to develop up to five programs using Elektrofi's formulation technology. Elektrofi will receive an upfront payment of $18M and could earn over $155M in future milestones for each target. This partnership could lead to the development of up to 12 unique products with Elektrofi's partners.
January 03, 2024 | 12:55 pm
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Johnson & Johnson's subsidiary Janssen Biotech has entered a strategic partnership with Elektrofi, potentially enhancing JNJ's product pipeline with innovative technology. The deal includes an $18M upfront payment and future milestones that could significantly exceed $155M per target.
The partnership with Elektrofi is likely to be viewed positively by investors as it represents an expansion of JNJ's product development capabilities and could lead to significant future revenue through milestones. The upfront payment is relatively modest compared to JNJ's overall financials, but the potential for future earnings is substantial. This news could lead to a short-term positive sentiment in JNJ's stock.
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