Corporate Banner
Satellite Banner
Technology
Networks
Scientific Communities
 
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 3,200+ scientific posters on ePosters
  • More Than 4,600+ 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
Platelets are the Pathfinders for Leukocyte Extravasation During Inflammation
Findings from the study could help in the prevention and treatment of inflammatory pathologies.
ASMS 2016: Targeting Mass Spectrometry Tools for the Masses
The expanding application range of MS in life sciences, food, energy, and health sciences research was highlighted at this year's ASMS meeting in San Antonio, Texas.
Benchtop Automation Trends
Gain a better understanding of current interest in and future deployment of benchtop automated systems.
Manufactured Stem Cells to Advance Clinical Research
Clinical-grade cell line will enable development of new therapies and accelerate early-stage clinical research.
Dengue Virus Exposure May Amplify Zika Infection
Researchers at Imperial College London have found that the previous exposure to the dengue virus may increase the potency of Zika infection.
Gender Determination in Forensic Investigations
This study investigated the effectiveness of lip print analysis as a tool in gender determination.
Identifying Novel Types of Forensic Markers in Degraded DNA
Scientists have tried to verify the nucleosome protection hypothesis by discovering STRs within nucleosome core regions, using whole genome sequencing.
Proteins in Blood of Heart Disease Patients May Predict Adverse Events
Nine-protein test shown superior to conventional assessments of risk.
Higher Frequency of Huntington's Disease Mutations Discovered
University of Aberdeen study shows that the gene change that causes Huntington's disease is much more common than previously thought.
Starving Stem Cells May Enable Scientists To Build Better Blood Vessels
Researchers from the University of Illinois at Chicago College of Medicine have uncovered how changes in metabolism of human embryonic stem cells help coax them to mature into specific cell types — and may improve their function in engineered organs or tissues.
Scroll Up
Scroll Down
Skyscraper Banner

Skyscraper Banner
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
3,200+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
4,600+ scientific videos
Close
Premium CrownJOIN TECHNOLOGY NETWORKS PREMIUM FOR FREE!