Johnson & Johnson is beginning 2024 by making another bet on antibody-drug conjugates (ADCs) with the acquisition of Ambrx Biopharma, Inc., which the drug maker announced shortly before CEO Joaquin Duato spoke in a fireside chat at the J.P. Morgan Healthcare Conference.
J&J Makes Its Biggest Bet Yet On Antibody-Drug Conjugates With Ambrx Buyout
CEO Joaquin Duato told the J.P. Morgan Healthcare Conference that the drug maker hopes the $2bn acquisition can make one of its lead candidates, ARX517, the first PSMA-directed ADC for prostate cancer.
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