J&J will gain access to the Ambrx pipeline comprising candidate therapeutics for a range of cancer indications. Credit: Michael Vi / Shutterstock.com.

Johnson & Johnson (J&J) has concluded the acquisition of clinical-stage biopharmaceutical company Ambrx Biopharma in a $2bn transaction.

The companies entered a definitive agreement to execute the acquisition in January 2024.

The acquisition will be deemed a business combination and marks a significant step for J&J in enhancing its oncology portfolio, particularly in the area of prostate cancer.

The strategic move will also strengthen the company’s capabilities in developing next-generation antibody-drug conjugates (ADCs).

Ambrx’s synthetic biology technology platform is intended for designing and developing advanced ADCs.

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The integration of Ambrx’s ADC technology into J&J’s portfolio presents a unique opportunity to advance the development and commercialisation of targeted oncology therapies.

J&J will gain access to the Ambrx pipeline comprising candidate therapeutics for a range of cancer indications.

The assets comprise ARX517, an ADC for metastatic castration-resistant prostate cancer (mCRPC); ARX788, for treating human epidermal growth factor receptor 2 (HER2) for metastatic HER2+ breast cancer, and ARX305 to treat renal cell carcinoma.

J&J innovative medicine oncology global therapeutic area head Yusri Elsayed stated: “We’re pleased to welcome Ambrx’s talented scientific team and ADC platform to Johnson & Johnson.

“We look forward to continuing the development of ARX517, which represents a potential first and best-in-class PSMA [prostate-specific membrane antigen]-targeting ADC for the treatment of metastatic castration-resistant prostate cancer.

“This significant opportunity sets the stage for advancing next-generation ADCs to deliver differentiated solid tumour therapies that improve patients’ lives.”

The latest development comes after the US Food and Drug Administration granted full approval for J&J’s RYBREVANT (amivantamab-vmjw) plus chemotherapy for non-small cell lung cancer.

This decision, which comes after a priority review, upgrades the May 2021 accelerated approval to full approval.