Johnson & Johnson Acquires Ambrx Biopharma for ~$2.0B
Shots:
- Johnson & Johnson has signed a definitive agreement to acquire Ambrx Biopharma to strengthen its oncology portfolio through Ambrx preclinical & clinical ADC programs for the treatment of multiple cancer indications inc. ARX517 (mCRPC), ARX788 (HER2+ breast cancer) & ARX305 (renal cell carcinoma)
- Under the terms of the agreement, Johnson & Johnson will acquire all the outstanding shares of Ambrx’s common stock for $28.00/share in cash through a merger of Ambrx with a subsidiary of the Company
- Moreover, ~$1.9B estimated net value of the transaction is based on Ambrx’s estimated fully diluted shares outstanding, less estimated net cash at the time of closing. The transaction is expected to close by H1’24
Ref: Johnson & Johnson | Image: Ambrx Biopharma
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Shivani was a content writer at PharmaShots. She has a keen interest in recent innovations in the life sciences industry. She was covering news related to Product approvals, clinical trial results, and updates. We can be contacted at connect@pharmashots.com.
