While the acquisition allows the pharmaceutical giant to expand its immune-mediated disease pipeline, the acquisition of Proteologix will also broaden Johnson & Johnson’s atopic dermatitis treatment offerings.
“The Proteologix team has developed a promising early pipeline of bispecific antibodies that are a strong complement and strategic fit for our innovation strategy,” Candice Long, worldwide vice president of immunology for Johnson & Johnson, said in the release. “This acquisition is yet another example of our ongoing commitment to redefine the standard of care for immune mediated diseases.”
In addition to the $850 million cash payment, there is also potential for another milestone payment to Proteologix down the road, according to the news release. Details regarding the amount the extra payment may be were not disclosed.
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