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Pharmacyclic’s Co-Development Pact With Janssen Carries Largest Single-Asset Upfront Payment Of 2011

The two companies will co-develop and co-commercialize PCI-32765, which is being investigated in multiple types of hematological cancer.

Pharmacyclics Inc. signed on a deep-pocketed, experienced partner to continue development and help plan for worldwide commercialization of its lead program Dec. 8, as [Janssen Biotech NV] paid $150 million upfront to collaborate on PCI-32765, a Phase II candidate in several forms of hematological cancer. The deal also calls for up to $850 million in development and regulatory milestone payments.

It was Janssen’s second business development action in as many days, as the Johnson & Johnson division agreed to...

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