J&J's ($JNJ) German subsidiary has snapped up a small biotech with an intriguing early-stage heart drug.
There's no word about how much Janssen-Cilag paid for CorImmun--the release only notes an undisclosed upfront and milestones--but the pharma giant was clearly attracted by the biotech's study results to date on COR-1's ability to mute autoimmune, beta 1 receptor-simulating antibody effects on the body.
"The prevalence of heart failure is rising rapidly, and COR-1 is an early stage development compound with a novel mechanism for treating heart failure that has the potential to improve heart function by suppressing antibodies that can exacerbate this condition," said Peter M. DiBattiste, Janssen's global therapeutic area head, cardiovascular disease and metabolism. COR-1 is a peptide.
The deal was completed late last week.
- here's the press release