Nipocalimab developer Momenta Pharmaceuticals to be acquired by J&J

Filed under: Pharma Industry News | Tags: , , , , , , , , , ,

J&J acquisition of Momenta Pharmaceuticals : US healthcare giant Johnson & Johnson (J&J) has signed a $6.5 billion deal to acquire Momenta Pharmaceuticals, a biotech company based in Cambridge, Massachusetts, which is focused on developing drugs for the treatment of rare immune-mediated diseases.

As per the terms of the all-cash transaction, shareholders of Momenta Pharmaceuticals are being offered $52.50 per share.

The transaction gives Johnson & Johnson’s subsidiary Janssen Pharmaceutical Companies access to Momenta Pharmaceuticals’ anti-FcRn antibody nipocalimab (M281), which is said to have the potential to be developed for addressing various autoimmune diseases that have a significant unmet medical need in neuro-inflammatory disorders, dermatology, maternal-fetal disorders, rheumatology, and autoimmune hematology.

Recently, the US Food and Drug Administration granted the rare pediatric disease designation to nipocalimab.

Johnson & Johnson said that the deal gives Janssen the scope to come up with multiple launches, several of which as first-in-class indications with potential for substantial peak year sales. Furthermore, the healthcare giant anticipates some of the launched drugs arising from the acquisition to cross $1 billion, thereby helping in Janssen’s target of continuing to realize above-market performance over the long term.

In addition to nipocalimab, Janssen will acquire the biotech company’s pipeline of clinical and pre-clinical assets.

J&J acquisition of Momenta Pharmaceuticals

J&J acquisition of Momenta Pharmaceuticals. Photo courtesy of ekem/English wikipedia.

Commenting on J&J acquisition of Momenta Pharmaceuticals, Mathai Mammen – Global Head of Janssen Research & Development, Johnson & Johnson, said: “Nipocalimab, and the rest of Momenta’s pipeline, built over many years by outstanding scientists who have turned important insights into actionable biology, expands and complements our portfolio by giving us clinical-stage and discovery-stage compounds in autoantibody biological pathways.

“Combining Momenta’s discoveries with our 20-year heritage in immunology, global scope, and scientific and medical expertise, we see a real opportunity to create an entire ‘pipeline in a pathway.

“We are excited about the significant potential to expand on Momenta’s excellent progress in rare diseases, and to increase our impact on patients both within and beyond our current focus areas.”

Janssen intends to retain the presence of Momenta Pharmaceuticals in Cambridge with the latter’s site expected to boost Johnson & Johnson’s existing innovation footprint and capabilities in the greater Boston region.

J&J acquisition of Momenta Pharmaceuticals is anticipated to be closed in H2 2020 based on the fulfillment of all conditions to a planned tender offer and merger completion.

Craig Wheeler – President and CEO of Momenta Pharmaceuticals, commenting on J&J acquisition of Momenta Pharmaceuticals, said: “The agreement with J&J recognizes the value created by years of commitment and dedication to our mission by the many current and past Momenta employees. Programs such as nipocalimab have the potential to improve the lives of countless patients suffering from autoimmune and fetal maternal diseases.

“This acquisition provides strong value for our shareholders and ensures a level of investment in our exciting portfolio that will further enhance its potential for patients. I believe J&J is the right company to advance our portfolio of novel drug candidates for autoimmune and rare diseases.

“J&J’s leadership in immunology, extensive capabilities, and global reach, as well as its alignment with our vision of pioneering therapies for complex diseases is a strong fit for our company and our portfolio.”

Related posts

Leave a Reply

Your email address will not be published. Required fields are marked *