Johnson & Johnson to Acquire Ambrx
Johnson & Johnson has entered into a definitive agreement to acquire Ambrx, a clinical-stage biopharmaceutical company with a proprietary synthetic biology technology platform to design and develop next-generation antibody-drug conjugates (ADCs). The all-cash merger transaction for a total equity value of approximately €1.8 billion ($2.0 billion), or €1.75 billion ($1.9 billion) net of estimated cash acquired.
Ambrx is advancing a focused portfolio of clinical and preclinical programs designed to optimize the efficacy and safety of its candidate therapeutics in multiple cancer indications.
Yusri Elsayed, Global Therapeutic Area Head, Oncology, Johnson & Johnson Innovative Medicine commented, “Ambrx’s pipeline and ADC platform present exciting future opportunities to deliver enhanced, precision biologics as we look to transform the treatment of cancer and improve patients’ lives.”
The planned acquisition presents a distinct opportunity for Johnson & Johnson to design, develop, and commercialize targeted oncology therapeutics. Ambrx’s proprietary ADC technology incorporates the advantages of highly specific targeting monoclonal antibodies securely linked to a potent chemotherapeutic payload to achieve targeted and efficient elimination of cancer cells without the prevalent side effects typically associated with chemotherapy.
Margaret Yu, Prostate Cancer Disease Area Leader, Johnson & Johnson Innovative Medicine said, “We see a unique opportunity to harness the potential of this innovative ADC platform, and with our deep understanding of prostate cancer, deliver a targeted PSMA therapeutic for addressing the growing needs of the more than 185,000 patients living with metastatic castration-resistant disease today.”
Ambrx was spun out of The Scripps Research Institute in 2003. The company pioneered the expanded genetic code technology platform for incorporation of synthetic amino acid (SAA) into proteins at any selected site using industry standard cell lines. SAAs allow engineered precision biologics with site-specific, homogenous and stable conjugation, overcoming limitations of traditional conjugation technologies.
