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news.Adenosine Therapeutics has signed a worldwide collaboration and option agreement with Ortho-McNeil Pharmaceutical, to accelerate the development of novel oral drugs for the potential treatment of type 2 diabetes, asthma and other disorders.
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Under the terms of the transaction, Ortho-McNeil will obtain a one-year exclusive option to selected adenosine receptor antagonists discovered by Adenosine Therapeutics.
In connection with this, Johnson & Johnson Pharmaceutical R&D, an affiliate of Ortho-McNeil, will fund a one-year research collaboration, under which Johnson & Johnson Pharmaceutical R&D and Adenosine Therapeutics will conduct joint research to further optimize promising drug candidates from the program.
If Ortho-McNeil exercises its option to obtain exclusive, worldwide rights to the program, Adenosine Therapeutics will receive an option fee and one additional year of research support. If the collaboration reaches its full potential, Adenosine Therapeutics would receive additional payments based on achieving specific clinical milestones, and royalties based on net sales of products.