Johnson & Johnson announced that it has successfully completed the acquisition of Ambrx Biopharma, a clinical-stage biopharmaceutical company with a proprietary synthetic biology technology platform to design and develop next-generation antibody-drug conjugates (ADCs).

This acquisition reinforces Johnson & Johnson's commitment to innovation in prostate cancer and deepens the company's portfolio of next-generation antibody drugs and targeted oncology therapies.

This all-cash transaction has a total enterprise value of approximately $2.0 billion.

This acquisition represents a unique opportunity for Johnson & Johnson to design, develop and commercialize targeted oncology therapeutics.

' Ambrx's proprietary ADC technology integrates the benefits of highly specific monoclonal antibody targeting securely linked to a potent chemotherapeutic payload to achieve targeted and effective elimination of cancer cells without the common side effects typically associated with chemotherapy. '

' We look forward to continuing the development of ARX517, which represents the first and best potential ADC targeting PSMA for the treatment of metastatic castration-resistant prostate cancer, ' said Yusri Elsayed, MD, MHSc, PhD, Global Therapeutic Sector Head, Oncology, Johnson & Johnson Innovative Medicine.

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