Johnson & Johnson : Janssen Enters Collaboration with Bavarian Nordic to Develop Vaccines Against Hepatitis B Virus and HIV-1

RARITAN, NJ - July 26, 2017 - Janssen Pharmaceuticals, Inc., part of the Janssen Pharmaceutical Companies of Johnson & Johnson, announced today that it has entered into a worldwide exclusive license and collaboration agreement with Bavarian Nordic to leverage their MVA-BN® technology with Janssen's own AdVac® and DNA-based vaccine technologies in the development and commercialization of potential new vaccine regimens against hepatitis B virus (HBV) and the human immunodeficiency virus (HIV-1). This agreement stems from successful and ongoing collaborations between the companies to develop vaccines to address Ebola and Human Papillomavirus (HPV).

Data generated through the Janssen Ebola vaccine program and early insights from data published about a new HIV therapeutic vaccine approach suggest that the MVA-BN® technology platform could potentially benefit many patients when used with other vaccine technologies.

'We are committed to bringing together the best internal and external science of promising, complementary solutions and advancing them into the clinic as rapidly as possible. Our objective is to identify functional cures for HIV and HBV to control the viruses and prevent potential disease progression without the need for life-long treatment,' said Johan Van Hoof M.D., Global R&D Head, Janssen Infectious Diseases & Vaccines. 'With more than 250 million people believed to be living with HBV and a further 37 million with HIV it is critical that we address these significant unmet needs.'

Under the terms of the new agreement, Janssen will conduct all clinical development and, subject to regulatory approval, be responsible for registration, distribution and commercialization of any potential new vaccine regimens worldwide. Bavarian Nordic will receive an upfront payment and be eligible to receive milestone payments based upon the achievement of specified development, regulatory and sales milestones and tiered royalties on future worldwide sales.

In addition, Johnson & Johnson Innovation - JJDC, Inc. will make an equity investment in Bavarian Nordic building on previous investment which provided capital for the development, testing and production of Bavarian Nordic's Ebola vaccine at the height of the 2014 Ebola outbreak.
The transactions are subject to customary closing conditions, including termination or expiration of any applicable waiting periods under the Hart-Scott-Rodino Act.
About the Janssen Pharmaceutical Companies

At the Janssen Pharmaceutical Companies of Johnson & Johnson, we are working to create a world without disease. Transforming lives by finding new and better ways to prevent, intercept, treat and cure disease inspires us. We bring together the best minds and pursue the most promising science. We are Janssen. We collaborate with the world for the health of everyone in it. Learn more at www.janssen.com. Follow us at Twitter.com/JanssenGlobal.

About Johnson & Johnson Innovation
Johnson & Johnson Innovation LLC focuses on accelerating all stages of innovation worldwide and forming collaborations between entrepreneurs and Johnson & Johnson's global healthcare businesses. Johnson & Johnson Innovation provides scientists, entrepreneurs and emerging companies with one-stop access to science and technology experts who can facilitate collaborations across the pharmaceutical, medical device and consumer companies of Johnson & Johnson. Under the Johnson & Johnson Innovation umbrella of businesses, we connect with innovators through our regional Innovation Centers, Johnson & Johnson Innovation | JLABS, Johnson & Johnson Innovation - JLINX, Johnson & Johnson Innovation - JJDC, Inc. and our Business Development teams to create customized deals and novel collaborations that speed development of innovations to solve unmet needs in patients. For more information, visit www.jnjinnovation.com or follow @JNJInnovation.

Cautions Concerning Forward-Looking Statements

This press release contains 'forward-looking statements' as defined in the Private Securities Litigation Reform Act of 1995, regarding a new license and collaboration agreement and the development and commercialization of potential new vaccines. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Janssen Pharmaceuticals, Inc., Johnson & Johnson Innovation - JJDC, Inc. and/or Johnson & Johnson. Risks and uncertainties include, but are not limited to: the potential that the expected benefits and opportunities related to the collaboration may not be realized or may take longer to realize than expected; challenges and uncertainties inherent in product research and development, including the uncertainty of clinical success and of obtaining regulatory approvals; uncertainty of commercial success for new products; competition, including technological advances, new products and patents attained by competitors; challenges to patents; manufacturing difficulties or delays; product efficacy or safety concerns resulting in product recalls or regulatory action; changes to applicable laws and regulations, including global health care reforms; and trends toward health care cost containment. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended January 1, 2017, including under 'Item 1A. Risk Factors,' its most recently filed Quarterly Report on Form 10-Q, including under the caption 'Cautionary Note Regarding Forward-Looking Statements,' and the company's subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. The Janssen Pharmaceutical Companies, Johnson & Johnson Innovation - JJDC, Inc. and Johnson & Johnson do not undertake to update any forward-looking statement as a result of new information or future events or developments.