(Reuters) -Johnson & Johnson said on Monday it would buy privately held Halda Therapeutics for $3.05 billion in cash, expanding its presence in treatments targeting solid tumors and prostate cancer.
This
marks the medtech conglomerate's second major deal this year, after its $14.6 billion acquisition of neurological drug maker Intra-Cellular Therapies in January, reinforcing its strategy to expand higher-growth healthcare segments through new launches as it navigates the loss of exclusivity for its blockbuster immune disease treatment Stelara.
J&J has also pursued multiple deals in recent years to strengthen its pharmaceuticals and medical devices units, including a $13.1 billion purchase of Shockwave Medical in 2024.
Halda's lead drug candidate, HLD-0915, is in early to mid-stage development for the treatment of prostate cancer. The company also has several early-stage experimental treatments for breast, lung and other types of tumors.
Its "innovative technology is designed to work even when cancers no longer respond to standard treatments using a novel mechanism that enables the selective killing of cancer cells," said John Reed, executive vice president of pharmaceutical research and development at Johnson & Johnson.
Halda's RiPTAC technology works by linking a cancer marker to a protein essential for cell survival, selectively disabling that protein in cancer cells so they die while sparing the healthy ones.
J&J expects the deal to close within the next few months.
(Reporting by Christy Santhosh in Bengaluru; Editing by Shilpi Majumdar)
