Morningstar

Johnson & Johnson to Buy Firefly Bio for $1 Billion

Provided by Dow Jones

By Colin Kellaher 




  Johnson & Johnson has agreed to buy biotechnology company Firefly Bio for $1 billion in cash in a deal that bolsters the drugmaker's oncology pipeline. 



  J&J on Monday said Firefly is developing its proprietary Firelink degrader antibody conjugate platform, for KRAS-driven cancers, which have limited treatment options with survival measured in months. 



  Mutations of the KRAS gene have long been considered undruggable because the gene's structure lacks the deep binding pockets most drugs need. 



  J&J said the Firelink platform is a novel approach to overcome limitations of existing treatments by delivering a highly selective protein degrader to tumor cells, while avoiding healthy cells. 



  The New Brunswick, N.J., company said it expects to complete the acquisition later this year. 





  Write to Colin Kellaher at colin.kellaher@wsj.com 





  (END) Dow Jones Newswires



  June 08, 2026 08:48 ET (12:48 GMT)


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