Achillion, Janssen partner to develop HCV combo

Achillion Pharmaceuticals Inc. (NASDAQ:ACHN) granted the Janssen Pharmaceuticals Inc. subsidiary of Johnson & Johnson (NYSE:JNJ) exclusive, worldwide rights to develop and commercialize treatment regimens containing Achillion's HCV assets. Achillion's HCV pipeline includes ACH-3102, a pan-genotypic, second-generation HCV NS5A protein inhibitor; ACH-3422, a small molecule nucleotide prodrug inhibitor of HCV NS5B; and sovaprevir, a selective inhibitor of HCV NS3 protease.

J&J's venture arm, Johnson & Johnson Innovation-JJDC Inc., invested $225 million in Achillion through the purchase of 18.4 million newly issued shares at $12.25. Achillion EVP and CMO David Apelian said the equity investment constituted the upfront payment of the deal. ...