Johnson & Johnson Strikes $850 Million Deal to Boost Dermatology Portfolio
By Colin Kellaher
Johnson & Johnson has agreed to buy privately-held biotechnology company Proteologix for an initial $850 million in cash in a deal that bolsters the healthcare giant's dermatology portfolio.
J&J on Thursday said the deal for Proteologix, which is focused on bispecific antibodies for immune-mediated diseases, includes a pair of drug candidates aimed at atopic dermatitis, the most common inflammatory skin disease, and asthma.
The New Brunswick, N.J., company said the acquisition will also provide other programs with applications across a variety of other diseases, further boosting its capabilities to create novel bispecific programs.
J&J said it expects to complete the acquisition in mid-2024, adding that the deal includes the potential for an additional milestone payment.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
May 16, 2024 08:07 ET (12:07 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
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