Johnson & Johnson Comes to Strategic Agreement with Sail Biomedicines
The company was granted an exclusive option to acquire Sail for $2.58 billion
- Johnson & Johnson reached a strategic agreement with Sail Biomedicines to advance its immune-mediated disease program.
- Johnson & Johnson will make $785 million in initial payments and has an exclusive option to acquire Sail Biomedicines for $2.58 billion.
- Johnson & Johnson completed its $1 billion acquisition of biotechnology company Firefly Bio to bolster its oncology pipeline.
Johnson & Johnson JNJ -0.45%decrease; down pointing triangle said it came to a strategic agreement with Sail Biomedicines to advance its immune-mediated disease program and broader technology platform.
The collaboration comes with the incentive of expanding the application of Sail’s in vivo CAR-T platform across additional therapeutic targets over time.
Johnson & Johnson will also make an equity investment in Sail, and was granted an exclusive option to acquire Sail for $2.58 billion.
John Reed, Johnson & Johnson’s executive vice president of innovative medicine research and development, said by working with Sail the company would aim to accelerate the development of innovative therapies.
Under the agreement, Johnson & Johnson would make total initial payments of $785 million, including a $465 million equity investment, and additional contingent payments of $140 million if certain development milestones are achieved.
Johnson & Johnson also completed its acquisition of Firefly Bio, a biotechnology company, for $1 billion. The Firelink DAC platform for KRAS-driven tumors bolsters Johnson & Johnson’s oncology pipeline, Johnson & Johnson said.