Phenex Pharmaceuticals AG has entered into an agreement with Janssen Biotech, Inc. to jointly discover compounds that target the nuclear hormone receptor RORγT with the potential to treat chronic autoimmune and inflammatory disorders such as rheumatoid arthritis, psoriasis, and inflammatory bowel disease.   Phenex will receive an upfront payment and development milestones totaling as much as $135 million. Phenex is also eligible to receive royalties and milestones for any product sales resulting...