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(Sharecast News) - American pharma and medical giant Johnson & Johnson has announced the $3.05bn acquisition of clinical-stage biotech company Halda Therapeutics in hopes that the company can revolutionise the treatment of cancer.
Halda's lead candidate, HLD-0915, is a clinical-stage therapy for prostate cancer with a novel approach to the selective killing of cancer cells when cancers no longer respond to standard treatments, J&J said in a statement on Monday.
The acquisition, which is expected to close within the next few months, also includes several earlier-stage candidates for breast, lung and multiple other tumour types, along with possible future novel therapies beyond oncology, J&J said.
"This acquisition further strengthens our deep oncology pipeline with an exciting lead asset in prostate cancer and a platform capable of treating multiple cancers and diseases beyond oncology, providing a potential mid- and long-term catalyst for growth," said Jennifer Taubert, the head of J&J's Innovative Medicine division.
"We look forward to combining Halda's pipeline, platform and people with our world class R&D, commercial and manufacturing capabilities and advancing our goal of bringing these therapies to patients around the world."
J&J shares were up 0.1% at $196.04 ahead of the opening bell in New York.
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