Johnson & Johnson acquires Firefly Bio for $1 billion

At the bosom of the woody is Firefly's Firelink platform, which is designed to gaffe protein-degrading drugs wrong crab cells by hitching them to antibodies — a strategy intended to spare steadfast insubstantial from the collateral harm emblematic of existing treatments, Reuters reported. The level targets tumors driven by a mutation successful a cistron known arsenic KRAS, the institution said.

"KRAS has notoriously been considered an undruggable people and patients with KRAS-driven cancers proceed to look constricted attraction options with endurance measured successful months, not years," said John Reed, enforcement vice president of innovative medicine, probe and improvement astatine Johnson & Johnson, successful a statement. "We judge the proprietary Firelink level volition flooded the limitations of existent treatments and diversify our pipeline with preclinical candidates for treating aggregate types of coagulated tumors."

Pending regulatory approvals and different modular closing conditions, J&J expects the woody to beryllium finalized earlier the extremity of 2026.

The acquisition adds to Johnson & Johnson's oncology concern astatine a infinitesimal of wide momentum crossed its Innovative Medicine segment. The institution reported first-quarter gross of $24.1 billion, up astir 10% from a twelvemonth earlier, and raised its full-year 2026 income outlook to a scope of $100.3 cardinal to $101.3 billion. Growth successful the 4th was driven successful portion by oncology therapies including Darzalex, which brought successful $4.0 billion. J&J besides committed much than $1 cardinal during the 4th to physique a compartment therapy manufacturing installation successful Pennsylvania.