Vertex: Licensing Of VX-787 To Janssen For Treatment Of Influenza

(RTTNews) - Vertex Pharmaceuticals Inc (VRTX) Wednesday entered into a licensing agreement with Janssen Pharmaceuticals for the worldwide development and commercialization of VX-787, a novel medicine discovered by Vertex for the treatment of influenza.

As part of the agreement, Vertex will receive an up-front payment of $30 million from Janssen and has the potential to receive additional development and commercial milestone payments as well as royalties on future product sales.

Vertex completed a Phase 2a study of VX-787 in 2013 that showed statistically significant improvements in viral and clinical measurements of influenza infection. VX-787 is designed to directly inhibit replication of the influenza virus.