Capricor Therapeutics, a publicly traded biotechnology company, has signed a collaboration and exclusive license option with Janssen Biotech for development of Capricor's cell therapy program for cardiovascular applications, including its lead product, CAP-1002.

CAP-1002 is an allogeneic cardiosphere-derived cell (CDC) therapeutic under evaluation in patients who have suffered a large myocardial infarction. Capricor and Janssen will collaborate on elements of cell manufacturing development. Capricor will contribute to the costs of the manufacturing collaboration and will receive an upfront payment of $12.5 million from Janssen.

Janssen has the right to enter into an exclusive license agreement for CAP-1002 at any time until 60 days following delivery by Capricor of the six-month follow-up results from phase II of Capricor's ALLSTAR clinical trial for CAP-1002. Capricor will be eligible to receive up to $325 million in additional payments. In addition, a royalty would be paid on commercial sales of CAP-1002.