Potential partner9 Apr 2018 18:11
News Release
August 5, 2016 Carna Biosciences, Inc. Kohichiro Yoshino, President & CEO (Code:4572, Jasdaq Glowth) http://www.carnabio.com/english/
Carna Biosciences Announces Termination of Collaboration with Johnson & Johnson Innovation
Carna Bioscience announced today that Janssen Biotech, Inc. is terminating the license agreement for one of Carna Bioscience�s small molecule protein kinase inhibitors for strategic reasons.
Carna Bioscience had granted to Janssen an exclusive, worldwide license for the development and commercialization of the molecule in June, 2015. Upon termination of the agreement effective August 23rd, 2016, Janssen Biotech, Inc. will return all rights to develop and commercialize the molecule to Carna Bioscience.
Carna Bioscience believes that the molecule remains promising and is actively seeking a new partner to develop and commercialize the molecule.
The termination of the agreement will not materially affect Carna Biosciences�s 2016 financial results.
Tyk2 went in preclinical studies July 23rd 2016, it may be nothing, but hopefully it is, and Jansen are awaiting for all relevant data from the studies before making a decision.
The more Chk1 keeps performing, and fingers crossed, tyk2 shows promise at being best in class in the studies,then rather than a 300-400 million license deal for tyk2, it opens more premise for a takeover of a similar value so they get the 27.5% for Chk1 as well as the SKIL platform.
Keep going with the no news, the only one we want to hear is the license deal and or takeover.
Love peace and harmony.