ZURICH (Reuters) - Idorsia (IDIA.S), the Swiss drugmaker spun off from Actelion after it was bought by Johnson & Johnson (J&J) (JNJ.N), will receive a one-time payment of $230 million from J&J’s Janssen unit as they partner on aprocitentan for resistant hypertension.
Aprocitentan is a metabolite of Actelion’s Opsumit. Idorsia and J&J are seeking to develop it to treat hypertension patients whose disease has failed at least three therapies. The costs are to be shared equally by Idorsia and J&J, the Swiss firm said on Monday.
With this collaboration, Idorsia Chief Scientific Officer Martine Clozel is sticking to a disease specialty -- hypertension -- that she focused on to build up Actelion in the 1990s to its $30 billion sale to J&J earlier this year.
“Janssen has recognized the potential of aprocitentan, the latest product from a research effort that was initiated nearly 30 years ago,” Clozel, who with her husband Jean-Paul is a co-founder of Idorsia, said in a statement.
Following the announcement, Idorsia shares were seen rising 3.9 percent according to premarket indicators. Idorsia’s shares have doubled since beginning trading in June.
Reporting by John Miller; Editing by Edmund Blair