Theravance Biopharma Ireland and Janssen Biotech entered into a co-development and commercialization agreement over TD-1473, an inflammatory intestinal disease inhibitor.
Here's what you should know:
1. The companies will develop TD-1473 as well as related back-up compounds.
2. Theravance will receive an upfront payment of $100 million through the agreement and is eligible for up to $900 million in potential payments if Janssen remains in the collaboration following completion of phase two activities.
3. The companies will jointly develop the drug, sharing profits and expenses related to a phase three research program.
Theravance CEO Rick Winningham said, "Internally, we have been very excited about the potential of TD-1473 to serve as a transformational medicine designed to offer the proven therapeutic activity of JAK inhibitors without the safety concerns associated with systemic JAK exposure. We believe this transaction can accelerate the development of TD-1473 and maximize the potential value of the program to Theravance Biopharma."