Johnson & Johnson acquires Proteologics for $850 million

Johnson & Johnson announced Thursday that it will acquire Proteologix for $850 million in cash, as it looks to gain access to the private company’s experimental atopic dermatitis treatments.

Proteologics’ antibody (PX128) is ready to enter early-stage development to treat atopic dermatitis, commonly referred to as eczema, and asthma. Another antibody (PX130) is in pre-clinical trials for treating moderate to severe atopic dermatitis, as covered by CNN.

Atopic dermatitis is a chronic inflammatory skin disorder that causes damage to the skin barrier, making it dry, itchy, and prone to skin infections.

Johnson & Johnson’s experimental atopic dermatitis drug is in mid-stage development, according to the company.

The transaction is expected to close in the next few months, subject to antitrust approval and other customary closing conditions.

Johnson & Johnson said the deal may also include an additional payment.