On Wednesday, the U.S. Food and Drug Administration (FDA) approved Icotyde (icotrokinra), an interleukin-23 (IL-23) receptor antagonist for moderate-to-severe plaque psoriasis in adults and pediatric patients 12 years of age and older.

FDA Approves Icotyde for Plaque Psoriasis in Adults and Teens

Icotyde was jointly discovered and is being developed pursuant to the license and collaboration agreement between Protagonist Therapeutics, Inc. (NASDAQ:PTGX) and Johnson & Johnson (NYSE:JNJ).

Johnson & Johnson retains exclusive worldwide rights to develop Icotyde in Phase 2 clinical trials and beyond, and to commercialize compounds derived from the research conducted pursuant to the agreement against a broad range of indications.

FDA approval of Icotyde triggers a $50 million milestone payment to Protagonist, and it is eligible to receive up to $580 million in potential additional regulatory and sales milestone payments, as well as tiered sales-based ...