Eying atopic dermatitis, J&J buys Proteologix

May 16, 2024

Looking to boost its capabilities in dermatology, Johnson & Johnson announced that it will acquire Proteologix, a biotech specializing in bispecific antibodies for immune-mediated diseases.

Under the terms of the agreement, J&J will pay up to $850 million in cash and potential additional milestone payments. J&J aims to use the deal to build out its dermatology portfolio, specifically addressing unmet needs in atopic dermatitis (AD) and asthma treatment.

Key to the deal are Proteologix's two portfolio assets — PX128, a bispecific antibody targeting IL-13 and TSLP, and PX130, targeting IL-13 and IL-22. PX128 is set to enter phase 1 development for moderate to severe AD and asthma, while PX130 is in preclinical development for AD. These antibodies target multiple disease pathways, offering potential high efficacy and convenience with infrequent dosing.

Recently, Johnson & Johnson acquired all outstanding shares of Shockwave Medical, a cardiovascular medical device company, in a deal valued at approximately $13.1 billion. This acquisition bolstered J&J's medtech unit's position in cardiovascular intervention and accelerated its move into higher-growth markets. The deal followed J&J MedTech’s $16.6 billion acquisition of Abiomed in December 2022 and the $400 million purchase of Laminar in November 2023. More recently, J&J agreed to acquire Ambrx Biopharma in a next-gen ADC deal valued at about $2 billion.