Johnson & Johnson (NYSE:JNJ) entered into a definitive agreement to acquire Proteologix, Inc. from Pharmaron Beijing Co., Ltd and other shareholders for approximately $100 million on May 16, 2024. The transaction is subject to antitrust clearance and other customary closing conditions. The transaction is expected to close mid-year 2024. Centerview Partners LLC served as exclusive financial advisor, and Goodwin Procter as legal counsel to Proteologix on the transaction. The transaction has been approved by Pharmaron Beijing Co., Ltd's board.

As of year ended 2023, Proteologix, Inc reported total assets of $31.04 million, total common equity of $30.73 million, EBIT of $-5.74 million and net income of $-5.74 million.