AbbVie (ABBV) said that it has agreed to buy a privately-held UK-based biotechnology company DJS Antibodies Ltd for about $255 million in cash.
DJS shareholders remain eligible for potential additional payments upon the achievement of certain development milestones related to the success of the DJS-002 program. AbbVie anticipates retaining all current DJS employees and its facility in Oxford.
DJS is backed by founding investors Oxford Science Enterprises and Johnson & Johnson Innovation Ltd., along with LifeArc, Sedgwick Yard and Amgen Ventures.
DJS Antibodies is a privately-held UK-based biotechnology company dedicated to discovering and developing antibody medicines that target difficult-to-drug disease-causing proteins, such as G protein-coupled receptors (GPCRs). DJS's lead program is DJS-002, a potential first-in-class lysophosphatidic acid (LPA) receptor 1 antagonist antibody currently in investigational preclinical studies for the treatment of Idiopathic Pulmonary Fibrosis and other fibrotic diseases.
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