The Life Sciences team advised Proteologix on its 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. In addition to PX128 and PX130, the acquisition will provide J&J with other bispecific antibody programs with applications across a variety of other diseases.
The transaction is expected to close mid-year 2024, subject to antitrust clearance and other customary closing conditions.
Proteologix is a privately-held precision immunology company that 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.
The Goodwin team was led by Wenseng “Wendy” Pan, Shoaib Ghias and Robert Masella and included Kevin Guan, Amine Assouad, Claire Zhang, Shawn Peng, Longfei Fang, and Nikol Nerhan; Dan Karelitz, George Davis, and Erika Pey (Tax); Crescent Moran Chasteen, Regina Couto, and Justine Park (Executive Compensation); Arman Oruc and Charlie Stewart (Antitrust); Susan S. Lee (FDA); Jacqueline Klosek (Privacy), and April Sun (Labor and Employment).
For additional details on the acquisition, please read the press release.