Numab Therapeutics Announces Johnson & Johnson to Acquire its Wholly-Owned Subsidiary Yellow Jersey Therapeutics Including Rights to NM26, a Bi-Specific Antibody for the Treatment of Atopic Dermatitis
28 Mai 2024 - 1:35PM
Numab Therapeutics AG (Numab), a clinical stage biotechnology
company advancing a proprietary pipeline of immunology and oncology
therapeutics, announced today that the Company has entered into a
definitive agreement whereby Johnson & Johnson1 (NYSE: JNJ)
acquires Yellow Jersey Therapeutics (YJT), a wholly-owned
subsidiary of Numab to be spun-off to Numab's shareholders. YJT
comprises all assets relating to NM26, an investigational
first-in-class bi-specific antibody for the treatment of atopic
dermatitis (AD) set to advance into Phase 2 clinical development.
Under the terms of the acquisition, J&J will pay a purchase
price of $1.25 billion in cash for YJT.
NM26 targets IL-4Rα (type I and type II
receptors) and IL-31 to address the hallmarks of the
pathophysiology of atopic dermatitis. The antibody was discovered
and engineered using Numab’s proprietary MATCH™ technology
platform, which is designed to fuel a new wave of multi-specific
antibody drug candidates.
“We are thrilled to enter into this agreement
with J&J and are confident they will be able to rapidly advance
the development of NM26 for patients in need of a better treatment
for atopic dermatitis and other conditions,” said David Urech,
Ph.D., Founder and Chief Executive Officer of Numab. “This
transaction validates the power of our discovery and engineering
platform and its potential to bring multiple novel multi-specific
antibodies to large, underserved patient populations. Our
partnering strategy engaging biopharma partners such as Kaken,
Eisai, Boehringer Ingelheim and Ono from early on, has been
instrumental in realizing the value of our platform and will
continue to be key to advancing our potentially transformative
immunology and oncology programs.”
The closing of the transaction is expected to
occur in the second half of 2024, subject to clearance under the
Hart-Scott-Rodino Antitrust Improvements Act and other customary
closing conditions.
Financial advisors to Numab on this transaction
were Morgan Stanley & Co. International and Centerview
Partners LLC and Baker McKenzie acted as the legal advisor.
About Numab
Therapeutics AGNumab Therapeutics AG is developing
multi-specific antibody-based immunotherapies for inflammation and
cancer. Numab’s reproducible plug-and-play therapeutic design
process using proprietary platforms λ-Cap™ and MATCH™ puts it in a
unique position to overcome historical drug discovery barriers and
build a pipeline of new and important medicines aimed to maximize
patient benefits. Numab’s diverse research pipeline spans oncology,
immunology and inflammatory diseases and creates the opportunity
for the next generation of first-in-class and best-in-class
medicines. Several of the Company’s antibody candidates are being
developed in partnership with biopharma collaborators, further
validating the platform and development capabilities. For further
information, visit www.numab.com.
1 Legal entity, Cilag Holding AG
For further details, please
contact:
Investor Contact:Patrick
TillMeru Advisorsptill@meruadvisors.com
Media Contact:Julia DeutschLyra
Strategic Advisoryjdeutsch@lyraadvisory.com
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