Johnson & Johnson to Acquire Firefly Bio to Expand Oncology Pipeline With Novel Degrader Antibody Conjugate Platform

Johnson & Johnson announced a definitive agreement to acquire Firefly Bio Inc. for approximately $1 billion in cash, strengthening its oncology pipeline with a new therapeutic modality. The acquisition centers on Firefly’s Firelink degrader antibody conjugate (DAC) platform, which is designed to deliver protein degraders directly to cancer cells while minimizing damage to healthy tissue. The platform is aimed at treating difficult cancers, including KRAS-driven solid tumors, which have historically been challenging to target with existing therapies.