Numab Therapeutics Announces Johnson & Johnson to Acquire its Wholly-Owned Subsidiary Yellow Jersey Therapeutics Including Rights to NM26, a Bi-Specific Antibody for the Treatment of Atopic Dermatitis
J&J will gain full rights to develop, manufacture and commercialize NM26 globally for the treatment of atopic dermatitis and follow-on indications
Under the agreement terms, J&J will pay $1.25 billion to acquire Yellow Jersey Therapeutics, which holds NM26 rights
NM26 is a Phase 2-ready bi-specific antibody from Numab's pipeline of candidates, discovered and engineered using its proprietary MATCH™ technology platform
HORGEN, Switzerland, May 28, 2024 (GLOBE NEWSWIRE) -- Numab Therapeutics AG (Numab), a clinical stage biotechnology company advancing a proprietary pipeline of immunology and oncology therapeutics, announced today that the Company has entered into a definitive agreement whereby Johnson & Johnson1 (NYSE: JNJ) 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 2 clinical development. Under the terms of the acquisition, J&J will pay a purchase price of $1.25 billion in cash for YJT.
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.
"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, Ph.D., Founder and Chief Executive Officer 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. Our partnering strategy engaging biopharma partners such as Kaken, Eisai, Boehringer Ingelheim and Ono from early on, has been instrumental in realizing the value of our platform and will continue to be key to advancing our potentially transformative immunology and oncology programs."
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.
Financial advisors to Numab on this transaction were Morgan Stanley & Co. International and Centerview Partners LLC and Baker McKenzie acted as the legal advisor.
About Numab Therapeutics AG
Numab Therapeutics AG is developing multi-specific antibody-based immunotherapies for inflammation and cancer. Numab's reproducible plug-and-play therapeutic design process using proprietary platforms λ-Cap™ and MATCH™ puts it in a unique position to overcome historical drug discovery barriers and build a pipeline of new and important medicines aimed to maximize patient benefits. Numab's diverse research pipeline spans oncology, immunology and inflammatory diseases and creates the opportunity for the next generation of first-in-class and best-in-class medicines. Several of the Company's antibody candidates are being developed in partnership with biopharma collaborators, further validating the platform and development capabilities. For further information, visit www.numab.com.
1 Legal entity, Cilag Holding AG
For further details, please contact:
Investor Contact:
Patrick Till
Meru Advisors
ptill@meruadvisors.com
Media Contact:
Julia Deutsch
Lyra Strategic Advisory
jdeutsch@lyraadvisory.com
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