Johnson & Johnson to acquire Proteologix for $850M in cash

Johnson & Johnson announced that it has entered into a definitive agreement to acquire Proteologix, a privately-held biotechnology company focused on bispecific antibodies for immune-mediated diseases, for $850M in cash, with 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, or 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. Since AD and asthma are both heterogeneous diseases with different disease-driving pathways in distinct patient subpopulations, targeting multiple pathways offers the potential to deliver high-bar efficacy and remission. PX128 inhibits IL-13-mediated Th2 skin inflammation, an important disease-driving pathway in AD and asthma, as well as 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, which offers convenience patients prefer. Together, these pipeline additions demonstrate a strategic approach to build a portfolio of differentiated and complementary bispecifics. In addition to PX128 and PX130, the acquisition will provide J&J with other bispecific antibody programs with applications across a variety of other diseases, which further boosts the company’s capabilities to create novel bispecific programs.