Johnson & Johnson To Acquire Early-Stage Eczema Treatment Developer Proteologix For $850M

Thursday, Johnson & Johnson (NYSE:JNJ) agreed to acquire Proteologix Inc., a privately held biotechnology company focused on bispecific antibodies for immune-mediated diseases, for $850 million in cash, with the potential for an additional milestone payment.

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.
• PX130, a bispecific antibody targeting IL-13 plus IL-22, which is in preclinical development for moderate to severe AD. 

PX128 inhibits IL-13-mediated Th2 skin inflammation, an important disease-driving pathway in­ AD and asthma, and TSLP, a mediator of tissue inflammation in AD and asthma. 

Like PX128, PX130 inhibits IL-13-mediated Th2 skin inflammation. 

PX130 also inhibits IL-22 to restore the skin barrier and prevent inflammation from environmental triggers, such as allergens. 

Both assets are designed for infrequent dosing intervals.

“We see an opportunity for best-in-disease efficacy for both PX128 and PX130 as each bispecific antibody targets two different combinations of disease-driving pathways that are mediating the skin inflammation in heterogenous subpopulations of AD patients,” said David Lee, Global Immunology Therapeutic Area Head, Johnson & Johnson Innovative Medicine

In addition to PX128 and PX130, the acquisition will provide J&J with other bispecific antibody programs with applications across various other diseases, further boosting the company’s capabilities to create novel bispecific programs.

Atopic dermatitis (AD), also known as eczema, is a chronic inflammatory skin disorder that affects more than 102.8 million children and 101.3 million adults worldwide.

Recently, Johnson & Johnson agreed to acquire Shockwave Medical Inc. (NASDAQ:SWAV) for $335 per share in cash, corresponding to an enterprise value of approximately $13.1 billion, including the cash acquired. 

Price Action: JNJ shares are up 0.53% at $153.48 at last check Thursday.

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