MERGERS & ACQUISITIONS
Oxford biotech purchased by AbbVie for $255m
Oxford-based biotechnology company DJS Antibodies, which is focused on the discovery and development of antibody medicines targeting difficult-to-drug disease-causing proteins, has been acquired for $255m.
DJS Antibodies has been purchased by AbbVie. Based in North Chicago, it aims to discover medicines that solve serious health problems today and “address the medical challenges of tomorrow.”
The acquisition was backed by investors such as Oxford Science Enterprises, Johnson & Johnson Innovation Ltd, LifeArc, Sedgwich Yard and Amgen Ventures.
Using its HEPTAD platform, DJS Antibodies focuses on enabling antibody discovery to G protein-coupled receptors (GPCRs) and other intractable targets.
Commenting on the acquisition of DJS Antibodies, Jonathon Sedgwick, Vice President and Global Head of Discovery Research at AbbVie, said, “We are excited to bring the innovative science behind DJS-002 and the talented team at DJS to AbbVie. This acquisition will deliver new capabilities to enhance our current antibody research activities, an opportunity to strengthen our immunology portfolio, and provide a strong foothold for expande d research efforts in the dynamic bioscience hub in Oxford, UK.”
David Llewellyn and Joe Illingworth, Co-founders of DJS, added: “DJS was built on the principles of scientific curiosity and an aspiration to discover clinically meaningful innovative medicines. We’ve been privileged to grow the company within the world-class scientific and entrepreneurial community of Oxford, from an initial concept through to a successful biotech comprising an extremely talented team.”
Pharmafile
Therapeutic areas in focus