J&J inks an antibody discovery deal with Sevion

The Johnson & Johnson ($JNJ) Innovation center in California has helped orchestrate a deal with San Diego-based Sevion Therapeutics to develop new antibodies for a Janssen affiliate, CNA Development. Sevion gets an unspecified upfront payment and research support along with up to $125 million in milestones. "We believe our ability to identify antibodies against unpurified targets, particularly multispanning membrane proteins, and with different affinities and activities, will lead to breakthroughs in treatment for patients with serious disease," says Sevion CSO Vaughn Smider. Release