Mersana extends runway, gets $40M up front in three-ADC platform deal with J&J

With early data emerging from clinical and preclinical studies of Mersana’s fine-tuned ADCs, the biotech has entered a three-target deal with J&J to create more candidates based on one of its next-generation platforms.

Mersana Therapeutics Inc. (NASDAQ:MRSN) will receive $40 million up front from the Janssen Biotech Inc. unit of Johnson & Johnson (NYSE:JNJ), and is eligible for milestones totaling more than $1 billion, plus royalties...