Janssen Pharmaceuticals, a pharmaceutical subsidiary of healthcare product manufacturer Johnson & Johnson, acquired UK-based virtual biopharmaceutical company XO1 yesterday, giving an exit to another Johnson & Johnson subsidiary.
XO1 was founded to further develop ichorcumab, an anti-thrombin antibody that would be able to mimic a hypothetical human antibody that would produce an anticoagulated state without a predisposition to bleeding.
The company leases the technology from Cambridge University Hospitals and Cambridge University, where it was originally developed. It was established and funded by venture capital firm Index Ventures through a fund in which Johnson & Johnson Innovation is an investor.
Patrick Verheyen, head of Johnson & Johnson Innovation’s London innovation centre, said: “This acquisition illustrates how our global innovation strategy enables a local, hands-on approach that supports the regional life science ecosystems, provides Janssen a window on the most exciting science around the world and provides access to potentially breakthrough products in areas of strategic interest.”
The amount paid by Janssen for XO1 was not disclosed.