J&J makes a $1B bet on degrader antibody conjugates with Firefly Bio
Johnson & Johnson is paying $1 billion upfront to acquire Firefly Bio and its Firelink degrader antibody conjugate (DAC) platform, gaining a technology that links catalytic protein degraders to antibodies to target KRAS-driven tumors and expand its innovative medicine pipeline. Firefly has shown preclinical tumor reductions at very low doses, and the deal underscores rising pharma interest in DACs, which are drawing attention after multiple partnerships and acquisitions in the space.