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We provide the latest news from the world of economics and finance
(RTTNews) - Thursday, Johnson & Johnson (JNJ) announced its agreement to acquire Proteologix, Inc., a biotechnology company specializing in bispecific antibodies for immune-mediated diseases.
The deal involves an $850 million cash payment, with the potential for an additional milestone payment.
The acquisition will grant J&J access to Proteologix's bispecific antibody programs, including PX128 targeting IL-13 and TSLP, set to enter phase 1 development for moderate to severe atopic dermatitis and asthma, as well as PX130, a biospecific antibody targeting IL-13 and IL-22, currently in preclinical development for moderate to severe atopic dermatitis.
The transaction is expected to be finalized in mid-year 2024.
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