Janssen - Mersana ADC Collaboration

Sexton Riley LLP represented Janssen Biotech, Inc., one of the Janssen Pharmaceutical Companies of Johnson & Johnson, in its collaboration and license agreement with Mersana Therapeutics, Inc. to discover novel antibody-drug conjugates (ADCs) for three targets. Mersana will collaborate with Janssen on target candidates during preclinical development, with Janssen being solely responsible for clinical development and commercialization. Mersana will receive an upfront payment of $40 million. Mersana is eligible to receive reimbursement of certain costs as well as more than $1 billion in potential milestone payments, plus mid-single-digit to low double-digit percentage royalties on worldwide net sales of ADCs against the selected targets.