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J&J innovation team sets up international collaboration to discover Alzheimer’s drugs

Johnson & Johnson ($JNJ) has spent hundreds of millions of dollars in a so-far failed effort to develop a late-stage biologic that could be used to treat Alzheimer’s. And it’s now prepared to spend hundreds of millions more as it goes back to the drawing board to explore the molecular underpinnings of the disease in an attempt to find new therapies that promise to thwart the disease before it cripples the brain.

The pharma giant’s newly created Johnson & Johnson California Innovation Center has struck a deal to collaborate with Germany’s Evotec (Frankfurt Stock Exchange: $EVT) to discover new drug discovery targets for Alzheimer’s. J&J is providing up to $10 million to cover Evotec’s research costs and promising up to $145 million in milestones for each new drug that makes it all the way to the market under a new collaboration dubbed TargetAD.