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The Janssen Pharmaceutical Companies of Johnson & Johnson has acquired all rights to the investigational compound bermekimab, which has multiple dermatological indications, along with certain employees, from XBiotech Inc., for $750 million. 

Janssen Research & Development, LLC will develop bermekimab. The agreement was executed through Janssen Biotech, Inc. The transaction will be accounted for as a business combination.

Bermekimab is an anti-IL-1alpha monoclonal antibody (mAb) in Phase 2 development for the treatment of atopic dermatitis and hidradenitis suppurativa.  It is the only antibody targeting IL-1a currently in clinical development and has the potential for superior efficacy and safety compared to the current standard of care.

Should Janssen pursue bermekimab indications outside of dermatology, XBiotech may be eligible to receive additional payments upon the receipt of certain commercialization authorizations.