AVEO Pharmaceuticals has signed a global licensing deal with Johnson & Johnson’s (J&J’s) Centocor Ortho Biotech division for the development and commercialisation of its internally discovered RON (Recepteur d’Origine Nantais)-targeted antibodies, which have demonstrated strong antitumour activity in preclinical studies. AVEO will receive US$15 M upfront, half of which will be paid in cash and the rest will be in the form of a separate equity investment that will give an affiliate of Centocor a 1.25% stake in the company. AVEO could also receive up to US$540 M in milestone payments, along with tiered double-digit royalties.