Arkuda Therapeutics Announces Option Exercise and Asset Purchase

Johnson & Johnson has exercised its option to acquire Arkuda's portfolio of lysosomal function enhancers in exchange for an upfront payment and opportunity for additional milestone payments.

WATERTOWN, Mass., Jan. 9, 2025 /PRNewswire/ -- Arkuda Therapeutics, a biotechnology company applying novel insights at the intersection of lysosomal biology and neuronal health to develop medicines that change the trajectory of neurodegenerative disease, today announced that Johnson & Johnson* has executed its exclusive option to purchase Arkuda's portfolio of lysosomal function enhancers.

As part of this agreement, Arkuda receives an upfront payment and opportunity for additional payments for the achievement of certain development and commercial milestones.

Johnson & Johnson (through its corporate venture capital organization, Johnson & Johnson Innovation – JJDC, Inc.) were investors in the company. 

"Arkuda's continuing leadership in the area of lysosomal biology in neurodegeneration over the past several years has culminated in the identification of promising small molecule enhancers of lysosomal function which modulate lysosomal biology beneficially," said Gerhard Koenig, Ph.D., Founder, President and CEO, adding, "With its industry-leading capabilities in the development of drugs for neurodegenerative diseases like Alzheimer's Disease and Parkinson's Disease, we believe that Johnson & Johnson is well-positioned to advance these molecules toward human clinical studies."

* On February 27, 2024 Arkuda announced that it entered into an option and asset purchase agreement with Janssen Pharmaceuticals, Inc., a Johnson & Johnson company.

About Arkuda Therapeutics

Arkuda Therapeutics is a biotechnology company applying insights into lysosomal biology to drive the development of medicines to change the trajectory of neurodegenerative disease. The company is exploring the therapeutic potential of its lysosomal function enhancers in neurodegenerative diseases where genetic links to dysfunction in progranulin and lysosomal biology have been established, including Frontotemporal Dementia, Alzheimer's Disease and Parkinson's Disease. Arkuda is backed by leading investors including Atlas Venture, Cormorant Asset Management, Pfizer Ventures, abrdn plc, Mission BioCapital, Johnson & Johnson (through its corporate venture capital organization, Johnson & Johnson Innovation – JJDC, Inc.) and Eli Lilly and Company. To learn more visit www.arkudatx.com.

Media Contact:
Amanda Sellers
Deerfield Group
[email protected] 

SOURCE Arkuda Therapeutics