Johnson & Johnson to Acquire Proteologix for $850 Million, Including Dual-Targeting Antibody Drugs

May 16, 2024, 12:25 PM

Johnson & Johnson announced on Thursday that it will acquire privately held Proteologix for $850 million in cash, with potential for an additional milestone payment. The acquisition aims to bolster Johnson & Johnson's leadership in the treatment of atopic dermatitis. Proteologix brings a young roster of bispecific immunology medications, including a phase 1-ready asset targeting TSLP and dual-targeting antibody drugs. The acquisition has seen Johnson & Johnson's stock (JNJ) rise by 0.1% in pre-market trading.