DJS Antibodies is engaged in the development and commercialisation of antibody medicines that target difficult-to-drug disease-causing proteins, and its lead programme, DJS-002 is currently being studied in Idiopathic Pulmonary Fibrosis (IPF) and other fibrotic diseases
AbbVie Bay Area Campus. (Credit: AbbVie Inc.)
AbbVie has signed an agreement to acquire UK-based biotechnology company DJS Antibodies (DJS) for a total consideration of $255m.
DJS is engaged in the development and commercialisation of antibody medicines that target difficult-to-drug disease-causing proteins, such as G protein-coupled receptors (GPCRs).
The company is backed by founding investors Oxford Science Enterprises, and Johnson & Johnson Innovation, along with LifeArc, Sedgwick Yard and Amgen Ventures.
Under the terms of the agreement, DJS shareholders are expected to receive around $255m in cash payment from AbbVie, during the closing of the acquisition.
The shareholders are also eligible to receive potential additional payments, upon achievement of certain development milestones related to DJS-002 programme.
AbbVie intends to retain all current DJS employees and its facility in Oxford.
AbbVie vice president and discovery research global head Jonathon Sedgwick said: “We are excited to bring the innovative science behind DJS-002 and the talented team at DJS to AbbVie.
“This acquisition will deliver new capabilities to enhance our current antibody research activities, an opportunity to strengthen our immunology portfolio, and provide a strong foothold for expanded research efforts in the dynamic bioscience hub in Oxford, UK.”
The US drugmaker will benefit from DJS’ lead programme, DJS-002, a potential lysophosphatidic acid (LPA) receptor 1 (LPAR1) antagonist antibody.
DJS-002 is currently being studied in investigational preclinical studies for the treatment of Idiopathic Pulmonary Fibrosis (IPF) and other fibrotic diseases.
IPF is an aggressive, high-mortality disease caused by fibrotic scarring in the lungs.
AbbVie will also obtain access to the UK company’s HEPTAD platform, which enables antibody discovery targeting transmembrane protein targets.
In addition, DJS will use AbbVie’s drug discovery expertise to create antibody therapeutics and novel biology insights against targets such as GPCRs.
Centerview served as a financial advisor, while Goodwin Procter, and Cooley served as legal advisors to DJS and its shareholders, on the transaction.
DJS Antibodies co-founders David Llewellyn and Joe Illingworth stated: “DJS was built on the principles of scientific curiosity and aspiration to discover clinically meaningful innovative medicines.
“We’ve been privileged to grow the company within the world-class scientific and entrepreneurial community of Oxford, from an initial concept through to successful biotech comprising an extremely talented team.
“The whole team is incredibly excited to take the next step in this journey with AbbVie as we work together to accelerate the translation of our lead program into the clinic and develop an exciting research centre here in the UK.”