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The Latest Pharma Jobs, News and Events today | 23 August 2014

ViaCyte, Inc. Announces Signing of Rights Agreement with Janssen Research & Development LLC

ViaCyte, Inc., a privately held regenerative medicine company announced today that it has entered into a Rights Agreement with Janssen Research & Development LLC (Janssen), one of the Janssen Pharmaceutical Companies of Johnson & Johnson.  The agreement provides Janssen with a future right to evaluate a transaction related to the VC-01™ combination product that ViaCyte is developing for type 1 diabetes. This right will continue through the initial evaluation of clinical efficacy of VC-01.  ViaCyte received $20 million from Janssen and Johnson & Johnson Development Corporation (JJDC).  The payment included a rights fee and a note convertible into equity at a later date.  JJDC has been a long-standing investor in ViaCyte....

“These important transactions provide us with additional resources we need to pursue the further development of the VC-01 product candidate as a potential new treatment option for patients with type 1 diabetes,” said Paul Laikind, Ph.D., President and Chief Executive Officer of ViaCyte.  “We are pleased to be extending our relationship with Janssen and JJDC in this area of mutual interest.”

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