A few months after posting mid-stage data suggesting that its lead drug could be on a path to proving its worth in treating various conditions arising from ocular inflammation, Aldeyra Therapeutics $ALDX has scored a collaboration pact with the research arm at J&J.
The proof-of-concept work in dry eye disease and anterior uveitis evidently attracted the pharma to reproxalap. Their drug is an aldehyde sequestering agent, and J&J will now set up a joint steering committee to work on more of this category of agents.
The news helped buoy shares of the small biotech, which started the day with a market cap of $147 million.
J&J will retain rights to negotiate an option on the drugs they work on together with the Lexington, MA-based biotech. The J&J Innovation group, an active player in the Cambridge/Boston hub, played a role in lining up the partnership.
“As we are committed to the development of novel therapeutic product candidates for autoimmune and other diseases characterized by systemic inflammation, we are pleased to partner with Janssen, a world leader in the discovery and development of therapeutics for inflammatory diseases,” commented Aldeyra CEO Todd Brady in a statement.
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