Lei Jianping on January 9
Ambrx Biopharma announced yesterday that it has entered into a definitive agreement with Johnson & Johnson to acquire all of Ambrx's outstanding shares for a cash payment of $28 per share.
Ambrx's total equity is valued at approximately $2 billion.
Ambrx CEO Daniel M. "We are pleased to enter into this agreement with Johnson & Johnson to advance scientific research to treat unmet cancer needs," said Daniel J. O'Connor. "With our deep and unique knowledge of protein therapy precision engineering, and our know-how to combine synthetic amino acids in living cells, Ambrx has developed the next generation of novel drug candidates, such as site-specifically conjugated, highly stable antibody-drug conjugates. ”
"With this transaction, we will continue to advance our lead-in prostate cancer drug candidate and promising pipeline of Ambrx, while delivering significant cash value to our shareholders. ”
The transaction has been unanimously approved by Ambrx's Board of Directors and is expected to close in the first half of 2024.
Ambrx shares jumped 101.54% as a result of the transaction, trading at $27.47 and giving it a market capitalization of $1.735 billion as of today's close.
It was led by Fosun Pharma
Ambrx is a biopharmaceutical company focused on the discovery and development of next-generation antibody-drug conjugates (ADCs) and other engineered therapies that modulate the immune system through genetic code amplification technology platforms.
Ambrx filed with the NASDAQ in 2014 and withdrew its IPO process due to undervaluation, accepting a joint takeover led by Fosun Pharma and a consortium with Hopu Investment, Everbright Healthcare Fund and WuXi AppTec.
After the acquisition, Ambrx has restructured its team and strategic direction, with Ambrx's management mainly being held by Chinese, and in terms of strategy, Ambrx has abandoned other aspects to focus on cancer.
2020年10月9日，Ambrx完成2亿美元Crossover融资，新投资方包括Fidelity、BlackRock、Cormorant Asset、HBM Healthcare 、Invus、Adage Capital Partners和Suvretta Capital Management。
In June 2021, Ambrx was listed on the New York Stock Exchange at an issue price of $18 and issued 7 million shares for a total proceeds of $126 million. Ambrx closed at $17.05 on the first day, down 5.28% from the offering price, and the market capitalization of Ambrx was $640 million.
The Phase I/II APEX-01 study of ARX517 in advanced prostate cancer will be accelerated
Currently, the ARX517 is a research project that Ambrx is working on. The product is a potential first-in-class ADC developed by genetic code amplification technology, consisting of a fully humanized anti-prostate-specific membrane antigen (PSMA) monoclonal antibody, a non-cleavable linker, and AS269, a potent and potent microtubule inhibitor with intellectual property rights.
In July 2023, the FDA granted Fast Track Designation for ARX517 for the treatment of metastatic castration-resistant prostate cancer (mCRPC) whose disease has progressed after treatment with androgen receptor pathway inhibitors. PSMA is highly expressed in mCRPC (>89%) and has been shown to be a druggable therapeutic target.
Currently, a multicenter, open-label Phase I/II clinical trial (APEX-01, N=150) is evaluating the pharmacokinetics, safety, and preliminary anti-tumor activity of ARX517 in patients with mCRPC whose disease has progressed after receiving at least two prior prostate cancer therapies.
Ambrx said Johnson & Johnson will accelerate the Phase I/II APEX-01 study of ARX517 in advanced prostate cancer. The ARX788 is another ADC product that Ambrx has focused on developing, targeting HER2.
Yusri Elsayed, head of oncology at Johnson & Johnson, said the results seen in prostate cancer are "promising and represent a potentially first-in-class, best-in-class targeted therapy for the treatment of this aggressive disease." In addition, Ambrx's product line and ADC platform provide us with exciting future opportunities for enhanced precision biologics as we look to transform cancer treatments and improve the lives of patients." ”
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