Johnson & Johnson exercised its option to enter into a collaboration agreement with Idorsia Ltd. to jointly develop and commercialize ACT-132577, or aprocitentan, and any of its derivative compounds or products.
Swiss biopharmaceutical company Idorsia said it will receive a one-time milestone payment of $230 million, which will be reflected in its fourth-quarter earnings.
Johnson & Johnson unit Janssen Biotech Inc. will have the sole worldwide commercialization rights for aprocitentan, which is being studied to treat patients whose hypertension is uncontrolled despite the use of at least three anti-hypertensive drugs.
Idorsia will oversee the phase 3 development and regulatory submission for the drug in patients with hypertension that is not controlled by at least three therapies, while Janssen will supervise the phase 3 development and submission for any additional indications.
Idorsia is entitled to tiered royalty payments on any future net sales generated.
