Proteologix, Inc. to be Acquired by Johnson & Johnson

REDWOOD CITY, Calif., May 16, 2024 /PRNewswire/ -- Proteologix, Inc., a privately-held biotechnology company focused on bispecific antibodies for 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 potential for an additional milestone payment.

Proteologix's portfolio includes PX128, a bispecific antibody targeting IL-13 plus TSLP, which is ready to enter phase 1 development for moderate to severe atopic dermatitis (AD) and moderate to severe asthma, and PX130, a bispecific antibody targeting IL-13 plus IL-22, which is in preclinical development for moderate to severe AD. Since AD and asthma are both heterogeneous diseases with different disease-driving pathways in distinct patient subpopulations, targeting multiple pathways offers the potential to deliver high-bar efficacy and remission.

PX128 inhibits IL-13-mediated Th2 skin inflammation, an important disease-driving pathway in AD and asthma, as well as TSLP, a mediator of tissue inflammation in AD and asthma. Like PX128, PX130 inhibits IL-13-mediated Th2 skin inflammation. PX130 also inhibits IL-22 to restore the skin barrier and prevent inflammation from environmental triggers, such as allergens. Both assets are designed for infrequent dosing intervals, which offers convenience patients prefer.

"Proteologix is dedicated to advancing the field of immunology and inflammation (I&I) diseases. Our innovative approach involves developing highly specialized multi-specific, and multi-functional antibody drugs designed to break the efficacy ceiling while extending molecular half-life for optimized dosing schedules. This agreement with Johnson & Johnson will allow us to rapidly develop and realize the full potential of our lead programs in atopic dermatitis, asthma, and other significant I&I diseases," said David (Wenyan) Shen, Ph.D., Founder, Chairman and CEO of Proteologix.

In addition to PX128 and PX130, the acquisition will provide Johnson & Johnson with other bispecific antibody programs with applications across a variety of other diseases.

The transaction is subject to customary closing conditions.

Centerview Partners LLC served as exclusive financial advisor, and Goodwin Procter as legal counsel to Proteologix on the transaction.

About Proteologix, Inc.

Proteologix is a precision immunology company powered by proprietary multi-specific antibody technologies. The company is dedicated to the discovery and development of safe and convenient therapeutics that target multiple disease-driving pathways to potentially deliver high-bar efficacy for patients with immune-mediated diseases. Proteologix is led by industry veterans with proven track records of innovation, execution, and success, and has developed a robust pipeline of differentiated bispecific antibodies with best-in-disease potential.

SOURCE Proteologix, Inc.