Tesaro, an oncology-focused biopharmaceutical company, and Janssen Biotech have formed a global collaboration and license agreement focused on the development and commercialization of niraparib specifically for the treatment of prostate cancer. Niraparib is an oral, once daily, potent, and highly selective PARP inhibitor that is currently being evaluated in Phase 3 clinical trials for ovarian and breast cancer.

“We are pleased to be working with Janssen, a leader in the prostate cancer field, to advance niraparib in this indication,” said Lonnie Moulder, chief executive officer, Tesaro. “This innovative, indication-specific collaboration accelerates efforts to expand the treatment options available for men with prostate cancer and further increases the value of the niraparib franchise.”

Janssen will develop and commercialize niraparib for patients with prostate cancer worldwide, except in Japan. Tesaro will receive an upfront payment of $35 million, and is eligible to receive additional milestone payments of up to $415 million, contingent upon Janssen reaching certain pre-determined development, regulatory and commercial milestones, in addition to tiered, double-digit royalty payments.

Janssen will be responsible for funding all development and commercialization activities related to niraparib in prostate cancer. Separately, Johnson & Johnson Innovation – JJDC, Inc. is making a $50 million equity investment in Tesaro.