Alligator Bioscience will receive an up-front payment plus additional contingent payments upon reaching certain pre-determined development, regulatory and commercial milestones up to a potential total of US$700 million. Alligator is also eligible to receive tiered royalties on worldwide net sales upon successful launch and commercialization. In a simultaneous transaction Johnson & Johnson Innovation – JJDC, Inc. will subscribe for new shares of Alligator common stock.