Johnson & Johnson to Acquire Firefly Bio, Inc. to Expand Oncology Pipeline with Novel Degrader Antibody Conjugate Platform
Expands the Company’s expertise in targeting pan-KRAS and other drivers of hard-to-treat cancers
Acquisition adds a proprietary degrader antibody conjugate platform designed to overcome key limitations of existing therapeutic approaches
Strengthens leadership in next-generation antibody engineering to accelerate oncology innovation
Johnson & Johnson (NYSE: JNJ) today announced it has entered into a definitive agreement to acquire Firefly Bio, Inc., a biotechnology company advancing its proprietary Firelink™ degrader antibody conjugate (DAC) platform, for $1 billion in cash. The Firelink™ DAC platform for KRAS-driven tumors bolsters Johnson & Johnson’s oncology pipeline and ambition to develop targeted medicines for the most prevalent and hard-to-treat solid tumors with high unmet need1.
