AbbVie (NYSE:ABBV)
AbbVie (NYSE:ABBV) acquired U.K.-based DJS Antibodies for $255M in cash to enhance its immunology portfolio. As a result, AbbVie stock surged in the market.
Oxford Science Enterprises, J&J Innovation (a division of J&J), Sedgwick Yard, and Amgen Ventures (a subsidiary of Amgen) are among the private companies that have invested in DJS.
A news statement issued by AbbVie stock on Thursday highlighted DJS’s primary program: DJS-002, an antibody currently undergoing preclinical investigations for the treatment of Idiopathic Pulmonary Fibrosis (IPF) and other fibrotic illnesses.
AbbVie noted that the purchase would offer access to DJS’s patented HEPTAD technology, a revolutionary method of antibody development with specialized capabilities targeting transmembrane protein targets.
AbbVie vice president and global head of discovery research Jonathon Sedgwick said, “This purchase will bring additional capabilities to improve our existing antibody research operations, a chance to increase our immunology portfolio, and a good foundation for expanding research efforts in the vibrant bioscience center in Oxford, UK.”
Furthermore, AbbVie stock emphasized that DJS shareholders would still be able to receive possible additional payments tied to the successful completion of certain development milestones associated with the DJS-002 program.
AbbVie aims to retain all present DJS personnel and the facilities in Oxford.
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AbbVie stock jumped after the company announced plans to buy DJS Antibodies for $255 million to strengthen its immunology pipeline.
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Author Shariq Khan 
