Harpoon Therapeutics, Inc.

J&J Acquires Ambrx for $2B to Expand Antibody-Drug Conjugate Portfolio in Oncology

a year ago

• Johnson & Johnson has announced a $2 billion acquisition of Ambrx Biopharma, gaining access to a promising pipeline of antibody-drug conjugates for cancer treatment. • Ambrx's lead candidate ARX517, targeting PSMA in prostate cancer, shows promising clinical results and aligns with J&J's strategic focus in prostate cancer therapeutics. • The deal represents a significant premium of over 100% to Ambrx's previous share price and follows a trend of major pharmaceutical companies investing heavily in ADC technology.