J&J to acquire Firefly Bio for $1 billion

In an effort to increase the number of oncology medications in its portfolio, Johnson & Johnson (J&J) said on Monday that it had acquired the biotechnology firm Firefly Bio for $1 billion in cash.

Using antibodies, Firefly’s Firelink platform delivers a medication that breaks down proteins straight to cancer cells. Compared to existing treatments, this strategy may better fight tumors while protecting more healthy tissue, according to J&J.

According to the pharmaceutical company, the technology, which targets cancers with a KRAS gene mutation, «strengthens Johnson & Johnson’s oncology portfolio and its ambition to develop targeted medicines for the most prevalent and hard-to-treat solid tumors with high unmet medical need.»

According to John Reed, Executive Vice President of Innovative Medicine, Research & Development at J&J, «KRAS has traditionally been considered an undruggable therapeutic target, and patients with KRAS-driven cancers continue to face limited treatment options, with survival measured in months rather than years.»

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