Johnson & Johnson agreed to acquire privately held Firefly Bio for $1 billion in cash upfront (plus undisclosed milestones), announced June 8, 2026. The deal brings Firefly's proprietary Firelink degrader-antibody conjugate (DAC) platform, which uses antibodies to deliver targeted protein degraders against hard-to-drug oncology targets including KRAS-driven solid tumors, expanding J&J's oncology pipeline. Expected to close later in 2026.
MechanismDegrader-antibody conjugate (DAC): antibody-targeted delivery of a protein degrader payload to drive degradation of disease-driving proteins, including 'undruggable' targets such as KRAS