Halda Therapeutics has announced that it has entered into a definitive agreement pursuant to which Johnson & Johnson will acquire Halda for $3.05bn, payable in cash at closing, subject to customary adjustments.
Halda’s portfolio includes HLD-0915, a first-in-class, oral RIPTAC therapeutic, in development for metastatic castration-resistant prostate cancer (mCRPC).
Recently presented Phase I/II data showed that the therapy was well-tolerated and demonstrated encouraging anti-tumour activity, including reductions in prostate-specific antigen (PSA) and RECIST responses.
These results were seen in patients with advanced prostate cancer who had progressed after multiple prior treatments and had few remaining options.
“Halda is dedicated to advancing its novel RIPTAC modality to develop the next generation of selective, proximity-based small molecule therapeutics for patients with serious diseases,” said Christian Schade, President and CEO of Halda.
“Through this transaction, we will continue to rapidly develop this promising programme for patients with prostate cancer and advance Halda’s innovative pipeline from its RIPTAC platform to address a range of diseases."
"This announcement is a tribute to the years of scientific effort to develop this novel, first-in-class modality and deliver significant value to our shareholders.”
The transaction is expected to close within the next few months, subject to the satisfaction of customary closing conditions, including expiration of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.
Until then, Johnson & Johnson and Halda will continue to operate as separate and independent companies.