REDWOOD
CITY, Calif., May 16, 2024
/PRNewswire/ -- Proteologix, Inc., a privately-held biotechnology
company focused on bispecific antibodies for immune-mediated
diseases, today announced that it has entered into a definitive
agreement to be acquired by Johnson & Johnson for $850 million in cash, with potential for an
additional milestone payment.
Proteologix, Inc. to be Acquired by Johnson
& Johnson
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, 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.
"Proteologix is dedicated to advancing the field of immunology
and inflammation (I&I) diseases. Our innovative approach
involves developing highly specialized multi-specific, and
multi-functional antibody drugs designed to break the efficacy
ceiling while extending molecular half-life for optimized dosing
schedules. This agreement with Johnson & Johnson will allow us
to rapidly develop and realize the full potential of our lead
programs in atopic dermatitis, asthma, and other significant
I&I diseases," said David (Wenyan)
Shen, Ph.D., Founder, Chairman and CEO of Proteologix.
In addition to PX128 and PX130, the acquisition will provide
Johnson & Johnson with other bispecific antibody programs with
applications across a variety of other diseases.
The transaction is subject to customary closing conditions.
Centerview Partners LLC served as exclusive financial advisor,
and Goodwin Procter as legal counsel
to Proteologix on the transaction.
About Proteologix, Inc.
Proteologix is a precision immunology company powered by
proprietary multi-specific antibody technologies. The company is
dedicated to the discovery and development of safe and convenient
therapeutics that target multiple disease-driving pathways to
potentially deliver high-bar efficacy for patients with
immune-mediated diseases. Proteologix is led by industry veterans
with proven track records of innovation, execution, and success,
and has developed a robust pipeline of differentiated bispecific
antibodies with best-in-disease potential.
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SOURCE Proteologix, Inc.