With help from J&J, up­start Proven­tion lands rights to two mid-stage IBD drugs and shoots for PhII

Af­ter set­ting up one biotech com­pa­ny with a drug plucked from the shelves of big phar­ma, the same team is do­ing it again.

Proven­tion Bio ex­ecs — who un­veiled a $28.4 mil­lion round just a few months ago that in­clud­ed a sig­nif­i­cant con­tri­bu­tion from J&J — are un­veil­ing a new deal with the phar­ma gi­ant to­day, bag­ging rights to a pair of mid-stage as­sets they plan to hus­tle in­to mid-stage stud­ies de­signed to il­lus­trate quick­ly whether they have some­thing that can be point­ed to a piv­otal study.

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