ViaCyte has entered into a pharma deal with Janssen Research & Development for VC-01.
The agreement provides Janssen with a future right to evaluate a transaction related to the VC-01 combination product that ViaCyte is developing for type 1 diabetes.
This right will continue through the initial evaluation of clinical efficacy of VC-01.
ViaCyte received $20 million from Janssen and Johnson & Johnson Development Corporation (JJDC).
The payment included a rights fee and a note convertible into equity at a later date.
JJDC has been a long-standing investor in ViaCyte.
ViaCyte's VC-01 product candidate consists of pancreatic progenitor cells, called PEC-01 cells, which are derived from a proprietary human embryonic stem cell line, encapsulated in ViaCyte's proprietary Encaptra device.
For further deal information visit Current Agreements (subscription required)
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