Cilag, an affiliate of Johnson & Johnson–owned Janssen Pharmaceuticals, has acquired Covagen, launched by two postdocs at ETH Zurich in 2007. Covagen is developing multispecific protein therapeutics through its FynomAb technology platform. Covagen's technology fuses together antibodies and Fynomers, small binding proteins engineered to bind target molecules with the same affinity and specificity as antibodies. Its lead compound, COVA322, is in phase 1b/2a testing for psoriasis. Financial terms were not disclosed, but Covagen had previously raised $56.6 million. See CEO's story here http://bit.ly/1tGaine.
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Student-led startup Covagen snapped up by J&J. Nat Biotechnol 32, 965 (2014). https://doi.org/10.1038/nbt1014-965c
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DOI: https://doi.org/10.1038/nbt1014-965c