Deals Report: J&J acquires Proteologix, Fog-ARTbio to develop radiotherapies
Plus: Erasca strikes two deals for RAS-targeting therapies, AZ plans new ADC manufacturing site, and more
The last seven days brought at least one sizable M&A deal, the takeout of Proteologix by Johnson & Johnson, half a dozen biotech-biotech partnerships, and an announcement by AstraZeneca that it is establishing an ADC manufacturing footprint in Singapore.
Johnson & Johnson (NYSE:JNJ) acquired Proteologics Inc. (Tel Aviv:PRTL) for $850 million in cash, with another $150 million possible via a milestone payment. J&J gains multiple bispecific antibodies through the deal, including Phase I-ready candidate PX128, which targets IL-13 and TSLP and is in development for atopic dermatitis and asthma, and preclinical bispecific PX130, which targets IL-13 and IL-22 and is also pegged for atopic dermatitis. Although J&J didn’t reveal details about its development plans for either molecule, the company said both are designed for “infrequent” dosing...