Johnson & Johnson entered into a definitive agreement to acquire Proteologix, Inc., a Redwood City, California-based biotechnology company focused on bispecific antibodies for immune-mediated diseases, for $850M in cash, with potential for an additional milestone payment.
The transaction is expected to close mid-year 2024, subject to antitrust clearance and other customary closing conditions.
Proteologix’s portfolio includes PX128, a bispecific antibody targeting IL-13 plus TSLP, which is ready to enter phase 1 development for moderate to severe atopic dermatitis (AD) and moderate to severe asthma, and PX130, a bispecific antibody targeting IL-13 plus IL-22, which is in preclinical development for moderate to severe AD.
