Elektrofi, Inc., a company specializing in biopharmaceutical formulation technology, has recently unveiled a global research collaboration and licensing agreement with Janssen Biotech, Inc., a subsidiary of Johnson & Johnson. The primary focus of this collaboration is the development of a self-administered subcutaneous version of a leading oncology asset, allowing patients to conveniently administer the treatment at home. Johnson & Johnson Innovation played a facilitating role in the agreement.

Chase Coffman, Ph.D., the CEO of Elektrofi, expressed enthusiasm about the partnership, emphasizing the integration of Elektrofi's formulation expertise with Janssen's established strengths in oncology development and commercialization. The collaboration aims to enhance patient access to groundbreaking treatments by shifting the administration of certain Janssen oncology therapies to a home setting, offering the convenience of self-administration. Coffman believes that these next-generation therapies have the potential to not only improve patients' lives but also transform their overall treatment experience.

As part of the agreement, Elektrofi will receive an upfront payment of $18 million. In return, Janssen gains exclusive rights to a lead oncology target and up to four additional targets. Elektrofi stands to receive future milestone payments exceeding $155 million per target, contingent upon meeting developmental, regulatory, and sales-based milestones. Additionally, Elektrofi will be entitled to a tiered upper mid-single digit royalty on global net sales for any commercialized products. Janssen will take responsibility for the clinical development and commercialization of each product.

This strategic collaboration with Janssen broadens the application of Elektrofi's innovative formulation technology platform. Through ongoing collaborations with major pharmaceutical companies, Elektrofi envisions the potential development of up to 12 unique products.

Chase Coffman affirmed Elektrofi's commitment to supporting its partners' success and shared a collective dedication to introducing biologic therapies in new and patient-friendly ways, emphasizing subcutaneous delivery at home or any location preferred by the patient.

 

Source: globenewswire.com

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