J&J Adds New Dimension To Drug Discovery Efforts With 3DP Acquisition
Executive Summary
Johnson & Johnson's purchase of 3-Dimensional Pharmaceuticals has more of a research focus than its other recent drug acquisitions
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Johnson & Johnson's purchase of 3-Dimensional Pharmaceuticals has more of a research focus than its other recent drug acquisitions. The deal builds on existing development agreements; J&J subsidiary Centocor has an alliance with 3DP for its orally active direct thrombin inhibitor program. The leading anticoagulant compound, 3DP-4815, is in Phase I trials (1 (Also see "Centocor" - Pink Sheet, 8 Jan, 2001.), In Brief). Under an agreement that began in December 2001, J&J is funding 3DP to discover and optimize small molecule drug leads using its DiscoverWorks technology platform. 3DP uses high throughput screening, combinatorial chemistry, X-ray crystallography and structure-based drug design to discover drugs in cancer, inflammation, and metabolic and cardiovascular diseases. J&J's most recent pharmaceutical acquisitions have focused on marketed products. J&J stressed the existing co-marketing arrangement with Alza for the hyperactive disorder treatment Concerta as a reason for its 2001 acquisition (2 (Also see "J&J Increases Alza Ante By $5 Bil. Over Abbott: Concerta Has J&J Upbeat" - Pink Sheet, 2 Apr, 2001.), p. 20). The 1999 purchase of Centocor focused on the rheumatoid arthritis therapy Remicade and the platelet inhibitor ReoPro (3 (Also see "Centocor Remicade RA Launch Will Get J&J Support, Ultram Experience" - Pink Sheet, 26 Jul, 1999.), p. 3). In addition to collaborations with J&J, 3DP is working on a pegylated synthetic thrombopoietin peptide mimetic for chermotherapy-induced thrombocytopenia with Inhale Therapeutics. 3DP-3534 is expected to begin Phase I trials in the first half of the year. The Yardley, Penn. company also has a three-year discovery agreement with Bristol-Myers Squibb. The collaboration commenced in July 2000. J&J's acquisition, announced Jan. 16, will add 500,000 compounds to its chemical library. Following the close of the $88 mil. acquisition, expected in the second quarter, 3DP will be a semi-independent research unit within J&J's Rx research organization. The company has 200 employees, including 165 scientists, and research operations in Exton, Penn. and Cranbury, N.J. 3DP Senior VP-R&D Roger Bone, PhD, will manage the 3DP research unit reporting to J&J VP-Drug Discovery Michael Jackson, MD. 3DP founder, President and Chief Scientific Officer Raymond Salemme, PhD, will continue as a consultant to J&J. |