Johnson & Johnson: acquisition of Proteologix completed
In a press release, J&J points out that the transaction will enable it to strengthen its positioning in the field of bispecific antibody treatment of atopic dermatitis (eczema).
PX128, Proteologix's lead drug candidate, is a molecule targeting both IL-13 cytokines and thymic stromal lymphopoietin (TSLP) about to enter phase 1 clinical trials.
It is being developed for both moderate-to-severe atopic dermatitis and asthma.
In addition to PX128, the transaction will give the company access to PX130, another eczema program, and a whole range of other specific antibodies that can be studied in various therapeutic areas.
In addition to the initial cash consideration of $850 million, the transaction may include additional milestone payments depending on the progress of the various projects.
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