XBiotech Announces Agreement to Sell True Human Antibody Bermekimab Targeting IL-1a to Janssen
XBiotech Inc. (XBIT)
Last xbiotech inc. earnings: 8/9 03:01 pm
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Source: GlobeNewswire
AUSTIN, Texas, Dec. 07, 2019 (GLOBE NEWSWIRE) -- XBiotech Inc. (NASDAQ: XBIT) announced today that it has entered into a definitive agreement with Janssen Biotech, Inc., a Janssen Pharmaceutical Company of Johnson & Johnson, to sell XBiotech’s novel antibody (bermekimab) that neutralizes interleukin-1 alpha (IL-1?). IL-1? promotes disease-causing inflammation in a wide range of medical conditions. Janssen will acquire all rights to bermekimab under the terms of the agreement, and XBiotech will be free to use its True Human Antibody discovery program to develop new antibody therapeutics that target IL-1? to treat non-dermatological diseases. XBiotech plans to re-enter clinical development expeditiously with a next generation anti-IL-1? therapeutic. Following the acquisition, XBiotech will use its proprietary manufacturing technology to produce clinical supplies of bermekimab for Janssen under a supply agreement. In addition, XBiotech will contract with Janssen to provide clinic
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