Johnson & Johnson completed the acquisition of Ambrx for $1.9bn.

Johnson & Johnson, a pharmaceutical company, completed the acquisition of Ambrx, a clinical-stage biopharmaceutical company, for $1.9bn. “We’re pleased to welcome Ambrx’s talented scientific team and proprietary ADC platform to Johnson & Johnson. We look forward to continuing the development of ARX517, which represents a potential first- and best-in-class PSMA-targeting ADC for the treatment of metastatic castration-resistant prostate cancer. This significant opportunity sets the stage for advancing next generation ADCs with the aim of delivering differentiated solid tumor therapies that improve patients’ lives,” Yusri Elsayed, Johnson & Johnson Innovative Medicine Global Therapeutic Area Head, Oncology.