Johnson & Johnson to Acquire Proteologix, Inc. for $850 Million to Advance Bispecific Antibody Pipeline in Immunology

Editor's note:

Lilly Asia Ventures (LAV) is the angel investor of Proteologix and was also its largest shareholder prior to this transaction. The following news is reprinted from Proteologix's PR.

Main Text:
Redwood City, California, USA (May 16, 2024) -- Proteologix, a privately held biotechnology company focused on developing bispecific antibodies for the treatment of 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 the potential for additional milestone payments.

Proteologix's product portfolio includes PX128, which is preparing to enter Phase I clinical development, and PX130, which is in the preclinical development stage. PX128 is a bispecific antibody targeting IL-13 and TSLP for the treatment of moderate-to-severe atopic dermatitis (AD) and moderate-to-severe asthma; PX130 is a bispecific antibody targeting IL-13 and IL-22 for the treatment of moderate-to-severe AD. Since AD and asthma are heterogeneous diseases with different pathogenic pathways in different patient subgroups, targeting multiple pathways is expected to achieve high levels of efficacy and relief.

PX128 can inhibit IL-13-mediated Th2-type skin inflammation, a key pathogenic pathway in AD and asthma, as well as suppress TSLP, a mediator molecule that triggers tissue inflammation in AD and asthma. Similar to PX128, PX130 can inhibit IL-13-mediated Th2-type skin inflammation. PX130 can also inhibit IL-22 to repair the skin barrier and prevent inflammation caused by environmental triggers such as allergens. Both drugs are designed for extended dosing intervals, enhancing patient convenience and compliance. These two pipeline products reflect Proteologix's strategic direction of building a differentiated and complementary portfolio of bispecific antibodies.

Dr. David Shen, Founder, Chairman and CEO of Proteologix, stated: "Proteologix is committed to advancing the field of immunology and inflammatory (I&I) diseases. We employ innovative approaches to develop highly specialized multispecific, multifunctional antibody drugs aimed at breaking through efficacy ceilings while extending the half-life of molecules to optimize dosing regimens. This agreement with Johnson & Johnson will enable us to rapidly develop our lead pipeline projects targeting atopic dermatitis, asthma, and other significant I&I diseases, allowing us to fully realize their potential."

In addition to PX128 and PX130, this acquisition will also provide Johnson & Johnson with other bispecific antibody programs that can be applied to a variety of other diseases.

About PROTEOLOGIX, INC.

Proteologix is a precision immunology company driven by proprietary multispecific antibody technology. The company is committed to discovering and developing safe and convenient treatments that target multiple pathogenic pathways, with the potential to deliver high levels of efficacy for patients with immune-mediated diseases. Led by industry veterans with a strong track record of innovation and execution, Proteologix has developed a series of differentiated bispecific antibody candidates with best-in-class potential.

Source of the news:Proteologix, Inc.