Biotech Builds Buyout Momentum
It was another busy Monday of M&A activity in the biotech and healthcare space, with more expected during this week’s annual JPMorgan Healthcare Conference. Let’s quickly recap today’s deals. 📝
Johnson & Johnson will acquire cancer drug developer Ambrx Biopharma for $2 billion in cash. Ambrx is aiming to target multiple cancers with drugs called antibody-drug conjugates, or ADCs, which are described by researchers as “guided missiles” to directly target and kill cancer cells while limiting damage to healthy cells. 🎯