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- Jul 29, 202690% CONFIDENCEfrom the source
J&J Completes Its $1 Billion Acquisition of Firefly Bio
- Johnson & Johnson completed its acquisition of Firefly Bio on 29 July 2026 for $1 billion in cash, adding the Firelink degrader antibody conjugate (DAC) platform to its oncology pipeline[1].
- J&J first announced the definitive agreement on 8 June 2026, saying the platform targets KRAS-driven tumours, long considered undruggable, with preclinical candidates for several solid tumours[3].
- Firelink is designed to deliver highly selective protein degraders to cancer cells while sparing healthy tissue, a key limitation of many current treatments[1].
- DACs work like antibody-drug conjugates but carry protein degraders instead of chemotherapy; Firefly, a South San Francisco biotech incubated by Versant Ventures, launched in 2024 with a $94 million Series A[4].
- The deal is booked as an asset acquisition with an in-process R&D charge of about $1 billion in the third quarter, diluting adjusted EPS by about $0.46 in 2026 and $0.08 in 2027[1].
- Together with a same-day Sail Biomedicines deal, it cut J&J's 2026 adjusted operational EPS guidance by $0.64, to $10.86-$11.01[2].
References 487% CONFIDENCE
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- [1]90%jnj.com/media-center/press-releases/johnson-johnson-completes-acquisition-of-firefly-bio-inc-to-advance-next-generation-oncology-innovationjnj.com· Posted Sep 23, 2026· Starts Jul 29, 2026 ✓· 32% of score
"NEW BRUNSWICK, NJ (July 29, 2026) - Johnson & Johnson (NYSE: JNJ[3]) today announced the successful completion of its acquisition of Firefly Bio, Inc. ... for $1 billion in cash"; the 8-K furnishing it gives "Date of report (Date of earliest event reported): July 29, 2026".
- [2]90%Johnson & Johnson Form 8-K, 29 July 2026 (Item 7.01: Firefly Bio and Sail Biomedicines)sec.gov· Published Jul 29, 2026· 26% of score
J&J's filing furnishing the completion release as Exhibit 99.1: the Firefly deal cuts 2026 adjusted EPS by about $0.46 and 2027 by about $0.08, and with the Sail Biomedicines deal lowers 2026 adjusted operational EPS guidance to $10.86-$11.01.[1]
- [3]85%Johnson & Johnson to Acquire Firefly Bio, Inc. to Expand Oncology Pipeline with Novel Degrader Antibody Conjugate Platformjnj.com· Published Jun 8, 2026· 21% of score
J&J's 8 June 2026 announcement of the definitive agreement to buy Firefly Bio for $1 billion in cash, closing expected later in the year subject to regulatory approvals.[1]
- [4]82%J&J makes $1B upfront bet on emerging DAC space by netting Firefly Bio (Fierce Biotech)fiercebiotech.com· Published Jun 8, 2026· 21% of score
Independent coverage of the deal: explains degrader antibody conjugates, and says Firefly is a South San Francisco biotech incubated by Versant Ventures, launched in 2024 on a $94 million Series A and led by CEO Scott Hirsch.[1]
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