XBiotech sells new drug candidate for $750M to Johnson & Johnson subsidiary

Janssen Pharmaceutical Cos., a subsidiary of Johnson& Johnson, just completed its $750 million acquisition of the rights to bermekimab, a new drug candidate being studied as a potential treatment for multiple dermatological conditions, from Austin-based XBiotech Inc. The deal, announced Dec. 30, will also involve an undisclosed number of employees from XBiotech (Nasdaq: XBIT) joining Janssen’s staff. Under the terms of the agreement, XBiotech may be eligible to receive additional payments of…
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