Metamark believes that greater knowledge of tumor cell biology and behavior will be a major advance in designing optimized treatment strategies for individual patients and will improve survival and reduce morbidity from unnecessary treatments.
December 19, 2011
Metamark Genetics Signs Collaboration Agreement on
Novel Therapeutic Targets with Janssen Biotech
Metamark-discovered targets to be developed and commercialized
Cambridge, Mass. – December 19, 2011 - Metamark Genetics, Inc. announced today that it has entered into a research, collaboration, and license agreement with Janssen
Biotech, Inc. The agreement is based on Metamark’s discovery platform for the
identification and characterization of specific proprietary cancer targets demonstrated
to play a causal role in promoting tumor progression and spread (Prognosis Determinants™).
The collaboration will focus on the evaluation and validation of several of
Metamark’s Prognosis Determinants. Upon selection of the targets, Janssen Biotech will
receive a limited exclusive license under Metamark’s intellectual property and know-how
and will thereafter be responsible for the discovery, development, and commercialization
of therapeutic inhibitors targeting the specific Prognosis Determinants.
"We are delighted to enter into this important alliance with Janssen Biotech," said Eric Devroe, Ph.D., Vice President of Business & Strategy Development at Metamark.
"This collaboration and license agreement reflects the value of Metamark’s innovative
approach to identifying genes and proteins that drive aggressive behavior of
tumors – both in the development of prognostic assays as well as in supporting the
discovery and development of novel targeted therapeutics."
Metamark will receive an initial upfront payment from Janssen Biotech as well as
near-term milestone payments following initial target validation. Under the terms of the
agreement, Metamark may be eligible to receive up to $365 million in milestone payments
across multiple targets, based upon the achievement of specified development,
regulatory, and commercialization goals. In addition, Metamark will be entitled to
royalties on worldwide net sales of therapeutics and any associated companion
diagnostics upon commercialization.
Commenting on the agreement, Metamark President and CEO, Mark R. Straley, stated,
"Our ultimate mission at Metamark Genetics is to improve cancer patient outcomes
by empowering personalized treatment decisions. This collaboration advances our
mission by enabling us to apply our unique understanding of tumor biology to direct
the discovery and development of tumor-specific drugs and compounds."
About Metamark Genetics, Inc.
Metamark is a privately held oncology company focused on the development of function-based prognostic
assays for early staged cancers. The MetamarkDx™ Prognostic Assays under development are
based on Metamark’s proprietary Prognosis Determinants™, genes discovered through leading edge
cancer research and demonstrated to play a causal role in promoting tumor progression and spread. For
further information, please visit the company’s website at
Cautionary Note Regarding Forward-Looking Statements
This press release, and information contained on Metamark’s website, contains forward-looking statements that involve substantial risks and uncertainties, including statements regarding Metamark’s strategies and future plans, prospects and results, are forward-looking statements. The words "anticipate," "believe," "expect," "intend," "may," "plan," and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Metamark may not actually achieve the plans or expectations disclosed in its forward-looking statements, and you should not place undue reliance on its forward-looking statements.
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