Playing the long game in I/O, J&J inks $1.04B deal to buy oncolytic virus platform biotech BeneVir
J&J $JNJ is bringing a low-profile biotech — and some early-stage oncolytic viruses — into its fold, cementing its immuno-oncology pipeline with some nascent technologies that it believes will be transformational.
Janssen, J&J’s biotech arm, is paying $140 million upfront to acquire BeneVir in a deal that carries a string of additional milestone payments up to $900 million. Though the oncolytic viruses it just bagged are still preclinical candidates, looking down the road, Janssen believes they can treat solid tumor cancers both as standalone therapies and in combos.
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