Numab Therapeutics, a clinical stage biotechnology company advancing a proprietary pipeline of immunology and oncology therapeutics, has entered into a definitive agreement whereby Johnson & Johnson acquires Yellow Jersey Therapeutics (YJT), a wholly-owned subsidiary of Numab to be spun-off to Numab's shareholders.
YJT comprises all assets relating to NM26, an investigational first-in-class bi-specific antibody for the treatment of atopic dermatitis (AD) set to advance into Phase II clinical development. Under the terms of the acquisition, J&J will pay a purchase price of USD $1.25bn in cash for YJT.
“We are thrilled to enter into this agreement with J&J and are confident they will be able to rapidly advance the development of NM26 for patients in need of a better treatment for atopic dermatitis and other conditions,” said David Urech, founder and CEO of Numab. “This transaction validates the power of our discovery and engineering platform and its potential to bring multiple novel multi-specific antibodies to large, underserved patient populations.”
NM26 antibodies for the treatment of atopic dermatitis
NM26 targets IL-4Rα (type I and type II receptors) and IL-31 to address the hallmarks of the pathophysiology of atopic dermatitis.
The antibody was discovered and engineered using Numab’s proprietary MATCH technology platform, which is designed to fuel a new wave of multi-specific antibody drug candidates.
The closing of the transaction is expected to occur in the second half of 2024, subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act and other customary closing conditions.