Johnson & Johnson completes acquisition of Proteologix for $850 million in cash

Johnson & Johnson announced that it has successfully completed the acquisition of Proteologix, a privately held biotechnology company focused on bispecific antibodies for the treatment of immune-related diseases, for $850 million in cash with an option for additional milestone payment, as announced on May 16, 2024 “We look forward to continuing to develop PX-128 and PX-130 with the Proteologix team as they join Johnson & Johnson,” said David Lee, director of the global immunology therapeutic area at Johnson & Johnson Innovative Medicine. “These two bispecific antibodies have the potential to become top drugs for treating disease in people with moderate to severe atopic dermatitis and asthma because they target multiple pathways leading to the disease. We are excited to begin integrating them into our industry-leading immunology portfolio.”