Johnson & Johnson Acquires Firefly Bio for $1 Billion to Enter DAC Space Targeting 'Undruggable' KRAS Mutations
Johnson & Johnson
Medical Device R&D and Manufacturer
Firefly Bio
Cancer Treatment Platform Developer
June 10, 2026
eMedClub News
DAC Integrates Antibody-Drug Conjugates（ADC）With Targeted Protein Degradants（TPD）Two Major Technologies, linking the payload to the targeting antibody via a linker, both of which can precisely deliver the payload to cells expressing specific receptors. The core difference between the two lies in that DACs carry targeted protein degraders rather than cytotoxic drugs, enabling protein degradation and overcoming targets previously considered "undruggable."
Firefly Bio's Firelink DAC platform utilizesCatalytic Protein DegradantsWhen used as the payload in combination with the company’s proprietary linker technology, it can reduce the circulation of free payload in the body, thereby minimizing its impact on healthy cells. The company focuses on the development of therapeutic drugs targeting KRAS-mutant tumors. Previously, preclinical data released by the company for both solid tumors and hematologic malignancies demonstrated that a single dose at an ultra-low level could significantly reduce tumor volume.
IBI EXPO 2026 (4th) Bio-Innovative Drug Industry ConferenceDuring this period, "8th High-Level Forum on the Development of Novel Antibody DrugsWill be held onJune 12 (Friday) 13:30-15:00Major Online Launch!
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John Reed, M.D., Ph.D., Executive Vice President of Innovative Medicine Research and Development at Johnson & Johnson, stated that KRAS has long been recognized as a notoriously difficult-to-drug target. Patients with KRAS-mutated cancers have very limited treatment options, and their survival is often measured in months rather than years. The Firelink DAC platform holds promise for overcoming the limitations of existing therapies, adding multiple preclinical candidates targeting various solid tumors to the company’s pipeline.
Firefly Bio was incubated by Versant Ventures,Raised $94 million in the Series A financing round, with companies such as Eli Lilly participating in the investment.
Multinational corporations’ interest in DAC technology dates back to 2023. At that time, Merck & Co. paid C4 Therapeutics $10 million to establish a collaboration, securing exclusive development rights for one DAC and first-option rights for three additional targeted therapies; however, this partnership was terminated last November. Subsequently, Roche entered into a new collaboration with the company.
In a similar vein, BMS made a $100 million upfront payment to Orum Therapeutics in 2023 to secure the candidate drug ORM-6151. This DAC (Degradizer-Antibody Conjugate) features a CD33-targeting antibody linked to a GSPT1 degrader and has been renamed BMS-986497. It is currently undergoing Phase I clinical trials for hematologic malignancies, including acute myeloid leukemia and myelodysplastic syndromes.
2023, Seagen(Now acquired by Pfizer)Pfizer paid $60 million to Nurix Therapeutics to jointly develop DAC drugs. Following the acquisition, Pfizer continued this collaboration, which is currently in the early exploratory stage. Unlike most DAC drugs that focus on oncology, Nurix is exploring the application of this technology for the treatment of inflammatory and autoimmune diseases.
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