Aduro BioTech, Inc. ADRO announced that it has dosed the first patient in a phase I study on ADU-741 (also known as JNJ-64041809) for the treatment of patients with prostate cancer.
The open-label study will enroll patients (n=40) with metastatic castration-resistant prostate cancer.
We note that the study is being conducted by Aduro’s license partner for ADU-741, Janssen Biotech, Inc., a Johnson & Johnson JNJ company. In May 2014, the companies entered a research and license agreement to collaborate on the development of the candidate for the treatment of prostate cancer. As per the terms of the agreement, Janssen has the worldwide exclusive right to research, develop, manufacture, use, sell and otherwise exploit products containing ADU-741 for any and all uses. In addition, the company is responsible for carrying out certain research and development activities on the candidate until an investigational new drug (IND) application is approved.
We remind investors that last week, Aduro announced that it has received a milestone payment from Janssen on the acceptance of an IND application for ADU-741 in the U.S. Till date, the company has received an upfront payment and milestone payments associated with both the submission and the acceptance of the IND. In addition, Aduro is eligible to receive future development, regulatory and commercialization milestone payments of up to $345.5 million and royalties on worldwide net sales.
Meanwhile, Aduro and Janssen continue to work on the development of another candidate under their collaboration. Earlier this month, a phase I study on ADU-214 was initiated for the treatment of patients with lung cancer. The study is being conducted on patients with advanced or metastatic non-small cell lung cancer.
Aduro currently carries a Zacks Rank #3 (Hold). A couple of better-ranked stocks in the health care sector includes Anika Therapeutics Inc. ANIK and Achillion Pharmaceuticals, Inc. ACHN both sporting a Zacks Rank #1 (Strong Buy).
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