FX.co ★ Johnson & Johnson To Acquire Proteologix For $850 Mln

On Thursday, Johnson & Johnson (JNJ) announced its agreement to acquire Proteologix, Inc., a biotechnology company that specializes in bispecific antibodies for immune-mediated diseases.

The transaction includes an initial cash payment of $850 million, with the potential for additional milestone payments.

This acquisition will allow J&J to enhance its portfolio with Proteologix's bispecific antibody programs. Among these are PX128, targeting IL-13 and TSLP, which is set to begin phase 1 trials for moderate to severe atopic dermatitis and asthma, and PX130, a bispecific antibody targeting IL-13 and IL-22, currently in preclinical development for moderate to severe atopic dermatitis.

The deal is anticipated to close by mid-2024.