Johnson & Johnson: acquires Proteologix biotech company

(CercleFinance.com) - Johnson & Johnson announced on Thursday that it had reached an agreement to acquire Proteologix, an unlisted biotech company, for an initial sum of $850m.


The US healthcare giant says that the deal will notably enable it to strengthen its position in the treatment of atopic dermatitis (eczema) with bispecific antibodies.

PX128, Proteologix's lead drug candidate, is a molecule targeting both IL-13 cytokines and thymic stromal lymphopoietin (TSLP) about to enter phase 1 clinical trials.

It is being developed for both moderate-to-severe atopic dermatitis and asthma.

In addition to PX128, the transaction will give J&J access to PX130, another eczema program, and to a whole series of other specific antibodies that could be studied in various therapeutic areas.

J&J specifies that the transaction, which amounts to $850m in cash, may be accompanied by additional milestone payments depending on the progress of the various projects.


Copyright (c) 2024 CercleFinance.com. All rights reserved.