Corporate Banner
Satellite Banner
Pharma Outsourcing
Scientific Community
Become a Member | Sign in
Home>News>This Article

Aragon Pharmaceuticals Announces Acquisition by Johnson & Johnson

Published: Wednesday, June 19, 2013
Last Updated: Wednesday, June 19, 2013
Bookmark and Share
Aragon to spin off new corporation, Seragon Pharmaceuticals, focused on Selective Estrogen Receptor Degrader Platform.

Aragon Pharmaceuticals Inc. has announced a definitive agreement with Johnson & Johnson whereby Aragon will be acquired for $650 million in cash up front along with $350 million in contingent development milestone payments that could bring the total transaction value to $1 billion.

The acquisition includes Aragon's androgen receptor antagonist program, including its most advanced compound, ARN-509, a second generation androgen receptor signaling inhibitor that is currently being evaluated in a Phase II trial in patients with castration-resistant prostate cancer.

Prior to closing, Aragon will spin off an independent, newly formed corporation called Seragon Pharmaceuticals, which will be focused primarily on Aragon's Selective Estrogen Receptor Degrader (SERD) platform, including ARN-810, its lead SERD currently being evaluated in a Phase I trial for ER+ metastatic breast cancer.

Seragon will be based in San Diego, CA and will be financed by the current Aragon investors. It will retain members of the management team including, Richard Heyman, current Chief Executive Officer of Aragon, who will become Seragon's CEO.

Johnson & Johnson will not have an ownership stake in Seragon nor retain any rights to its technology or product development pipeline.

"This agreement represents seamless transition between biotech and Pharma and will provide an optimal outcome for the ARN-509 program and the prostate cancer patient community. The Aragon team is passionate about bringing game changing therapies to cancer patients and is excited to have Johnson & Johnson carry forward this innovative prostate cancer treatment. Johnson & Johnson is clearly a recognized leader in the oncology field, and their development and commercial capabilities in the prostate cancer area are unparalleled," said Richard A. Heyman, Ph.D., Chief Executive Officer and one of the co-founders of Aragon Pharmaceuticals.

"I would like to thank Rich and the entire team at Aragon for their commitment and steadfast belief in the ground breaking science behind ARN-509. In just four years since the founding of Aragon the company has advanced ARN-509 from an early preclinical asset through Phase II as well as building a strong pipeline of novel therapeutics targeting hormone dependent cancers. I would also like to thank Dr. Charles Sawyers for his pioneering work, which made the founding of Aragon possible. This is an ideal path which will hopefully translate to improving the lives of patients in the near-term as well as providing a new opportunity to advance the Aragon pipeline in the newly created spin off structure of Seragon," said Peter Svennilson, Founder and Managing Partner of The Column Group and Chairman of Aragon.

BofA Merrill Lynch served as exclusive financial advisor and Wilson Sonsini Goodrich & Rosati served as legal advisor to Aragon Pharmaceuticals in this transaction.

Further Information

Join For Free

Access to this exclusive content is for Technology Networks Premium members only.

Join Technology Networks Premium for free access to:

  • Exclusive articles
  • Presentations from international conferences
  • Over 3,500+ scientific posters on ePosters
  • More than 5,200+ scientific videos on LabTube
  • 35 community eNewsletters

Sign In

Forgotten your details? Click Here
If you are not a member you can join here

*Please note: By logging into you agree to accept the use of cookies. To find out more about the cookies we use and how to delete them, see our privacy policy.

Scientific News
Salford Lung Study - The First Real World Clinical Trial
In this podcast, we learn about the Salford Lung Study and its potential to revolutionize the way we assess new drugs and treatments around the world.
Anti-Inflammatory Drugs Could Help Treat Depression
Anti-inflammatory drugs could be used to treat some cases of depression, which further implicates our immune system in mental health disorders.
NIH Contributes to Global Effort to Prevent and Manage Lung Diseases
The large scale trial will measure health benefits of clean cookstoves.
Questioning the Safety of Selenium to Combat Cancer
Research indicates the need for change in practice as selenium supplements cannot be recommended for preventing colorectal cancer.
Scientists at NIH and Emory Achieve Sustained SIV Remission in Monkeys
The finding suggest that the immune systems of these animals are controlling SIV replication in the absence of antiretroviral therapy.
Painting the Way to Tumour Imaging
Tumour paint used in emergency surgery to aid cell identification for surgeons.
Anti-Cancer Drug Uses Tumour mRNA to Identify Responders
Phase I study of novel anti-cancer drug uses tumour mRNA expression to identify patients who will respond to the drug.
Targeting Estrogen Receptor Improves Survival in Breast Cancer
Trial finds estrogen receptor degrader significantly increases progression-free survival in patients with advanced breast cancer.
Clinical Trial Finds Medicine Program Alters Blood Serum
Meditation, yoga and vegetarian diet linked to decline in plasma metabolites associated with inflammation and cardiovascular disease risk.
Alzheimer’s Linked Protein Can Be Removed From Brain Without Hindering Memory, Learning
Researchers at UTSW have found that the mice can maintain their learning and memory when virtually all ApoE is removed from the brain but kept present in the liver to filter cholesterol.
Scroll Up
Scroll Down

SELECTBIO Market Reports
Go to LabTube
Go to eposters
Access to the latest scientific news
Exclusive articles
Upload and share your posters on ePosters
Latest presentations and webinars
View a library of 1,800+ scientific and medical posters
3,500+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
5,200+ scientific videos