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

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 3,000+ scientific posters on ePosters
  • More than 4,400+ 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 TechnologyNetworks.com 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
MicroRNA Pathway Could Lead to New Avenues for Leukemia Treatment
Cancer researchers at the University of Cincinnati have found a particular signaling route in microRNA (miR-22) that could lead to targets for acute myeloid leukemia, the most common type of fast-growing cancer of the blood and bone marrow.
Analysis of Dog Genome will Provide Insight into Human Disease
An important model in studying human disease, the non-coding RNA of the canine genome is an essential starting point for evolutionary and biomedical studies – according to a new study led by The Genome Analysis Centre (TGAC).
New Blood Test for The Earlier Diagnosis of Breast Cancer Spread
Researchers at University of Westminster have confirmed that a new blood test can detect if breast cancer has spread to other parts of the body.
First Gene Therapy Successful Against Human Aging
American woman gets biologically younger after gene therapies.
Targeting an ‘Undruggable’ Cancer Gene
RAS genes are mutated in more than 30 percent of human cancers and represent one of the most sought-after cancer targets for drug developers.
Altered Metabolism of Four Compounds Drives Glioblastoma Growth
Findings suggest new ways to treat the malignancy, slow its progression and reveal its extent more precisely.
Improving Engineered T-Cell Cancer Treatment
Purdue University researchers may have figured out a way to call off a cancer cell assassin that sometimes goes rogue and assign it a larger tumor-specific "hit list."
Uncovering How Some Breast Cancers Resist Treatment
A targeted therapy for triple-negative breast cancer (TNBC), the most aggressive form of breast cancer, has shown potential promise in a recently published study.
Characterizing Cancerous Genomic Variations
Tested on large tumor genomics database, REVEALER method allows researchers to connect genomics to cell function.
Activating Cancer-Killing Immune Cells
A UCL research team have discovered that cutting off a sleep-switch on immune cells inside a tumour wakes up the cells and enables the immune system to hunt down and destroy cancer.
SELECTBIO

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
3,000+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
4,400+ scientific videos
Close
Premium CrownJOIN TECHNOLOGY NETWORKS PREMIUM FOR FREE!