Johnson & Johnson is making another early-stage oncology deal, dishing out $1 billion in cash to acquire Firefly Bio, a preclinical startup working on degrader antibody conjugates.

The buyout hands J&J a technology that merges elements of two popular drugmaking methods: protein degraders and antibody-drug conjugates.

Johnson & Johnson to Acquire Firefly Bio, Inc. to Expand Oncology Pipeline with Novel Degrader Antibody Conjugate Platform