JnJ completes acquisition of Proteologix
New Brunswick: Johnson & Johnson has announced that it has successfully completed the acquisition of Proteologix, Inc., a privately-held biotechnology company focused on bispecific antibodies for immune-mediated diseases, for $850 million in cash with potential for an additional milestone payment, as announced on May 16, 2024.
“We look forward to continuing the development of PX-128 and PX-130 alongside the Proteologix team as they join Johnson & Johnson,” said David Lee, Global Immunology Therapeutic Area Head, Johnson & Johnson Innovative Medicine. “These two bispecific antibodies have the potential to become best in disease therapeutics for people living with moderate to severe atopic dermatitis (AD) and asthma by targeting multiple disease-driving pathways. We are thrilled to start integrating them into our industry leading Immunology portfolio.”
Beyond PX-128 and PX-130, this acquisition will provide Johnson & Johnson with eight other bispecific antibody programs with applications across a variety of other diseases, which further boosts the Company’s capabilities to create novel bispecific programs.
“The Proteologix team has developed a promising early pipeline of bispecific antibodies that are a strong complement and strategic fit for our innovation strategy,” said Candice Long, Worldwide Vice President, Immunology, Johnson & Johnson. “This acquisition is yet another example of our ongoing commitment to redefine the standard of care for immune mediated diseases.”
Atopic dermatitis (AD), also referred to as eczema, is a chronic inflammatory skin disorder affecting more than 9.6 million children and 16.5 million adults in the United States. AD is characterized by an overactive immune system that causes damage to the skin barrier, leaving it dry, itchy, and prone to rashes. AD may come and go throughout life and patients can experience severe flares of their disease. The condition can cause poor quality of life by causing social stigma impacting the ability to interact with family and friends, interrupting sleep due to intense itching and/or painful skin, and leading to anxiety, stress and depression with an increased risk of suicide.
Under the terms of the transaction Johnson & Johnson (the Company) has acquired Proteologix. The transaction will be accounted for as a business combination and will not have any impact to our previously disclosed 2024 adjusted EPS guidance range.
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