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
Related News:- Samsung Bioepis Successfully Resolves Patent Disputes with Johnson & Johnson
PharmaShots! Your go-to media platform for customized news ranging for multiple indications. For more information connect with us at connect@pharmashots.com
Click here to read the full press release
Tags
Shivani is a content writer at PharmaShots. She has a keen interest in recent innovations in the life sciences industry. She covers news related to Product approvals, clinical trial results, and updates. She can be contacted at connect@pharmashots.com.
