OICR, UHN, Novera Therapeutics Announce Collaboration with Johnson & Johnson Innovation for C $450 Million on cancer treatment commercialization

TORONTO, Oct. 14, 2015 /CNW/ - The Ontario Institute for Cancer Research ("OICR") together with Novera Therapeutics Inc., ("Novera") have announced a collaboration with Janssen Biotech, LLC ("Janssen"), a Pharmaceutical company of Johnson & Johnson, to accelerate the development of promising small molecule drug candidates for haematological cancers. Novera, a new Ontario biotechnology company, will discover and develop novel therapeutic compounds identified through OICR's drug discovery program in partnership with University Health Network's ("UHN") enabling technology and disease area biology, and coordinate the collaboration with Janssen under a collaboration, license option, and exclusive license agreement (the "agreement").   

Novera will receive an upfront payment and is eligible to receive various pre-clinical, clinical, regulatory and commercialization success-based milestone payments up to a total of approximately $450 million Cdn, plus tiered royalties on potential net sales of products. 

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