Johnson & Johnson Expands Immunology Portfolio with Proteologix Acquisition

Johnson & Johnson's Family of Companies has announced the completion of their acquisition of Proteologix, Inc., a privately-owned biotechnology firm specializing in bispecific antibodies for immune-mediated diseases. The acquisition deal, valued at $850 million in cash with potential additional milestone payments, was initially disclosed on May 16, 2024.

David Lee, the Global Immunology Therapeutic Area Head at Johnson & Johnson Innovative Medicine, expressed enthusiasm about the acquisition. He mentioned the promising potential of PX-128 and PX-130, two bispecific antibodies that could significantly improve treatment options for individuals with moderate to severe atopic dermatitis (AD) and asthma by targeting multiple disease-driving pathways.

The acquisition includes eight additional bispecific antibody programs with potential applications across a variety of diseases, which enhances Johnson & Johnson's capabilities to design new bispecific therapies. Candice Long, Worldwide Vice President of Immunology at Johnson & Johnson, highlighted the strategic fit of Proteologix's early-stage pipeline with the company's innovation strategy. She emphasized Johnson & Johnson's commitment to redefining the standard of care for immune-mediated diseases through this acquisition.

Atopic dermatitis (AD), or eczema, is a chronic inflammatory skin disorder affecting millions of children and adults in the United States. This condition is characterized by an overactive immune response that compromises the skin barrier, resulting in dryness, itchiness, and rashes. AD can have a cyclical pattern throughout a person's life, with periods of severe flare-ups. It adversely impacts the quality of life by causing social stigma, disrupting sleep due to intense itching and painful skin, and leading to mental health issues such as anxiety, stress, depression, and an increased risk of suicide.

The transaction involving the acquisition of Proteologix by Johnson & Johnson will be accounted for as a business combination and will not affect the company's previously disclosed adjusted EPS guidance for 2024.

Johnson & Johnson is dedicated to health innovation, striving to prevent, treat, and cure complex diseases. Their expertise in Innovative Medicine and MedTech positions them to deliver innovative healthcare solutions across a broad spectrum. Through continuous efforts, the company aims to achieve significant breakthroughs that will profoundly impact human health.

The integration of Proteologix's bispecific antibody programs into Johnson & Johnson's portfolio represents a strategic move to enhance their immunology research and development capabilities. This acquisition underscores Johnson & Johnson's determination to lead in the field of immune-mediated disease treatments and improve outcomes for patients worldwide.

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