Johnson & Johnson (J&J) has completed its acquisition of Ambrx Biopharma, a La Jolla, California-based bio/pharmaceutical company, for a total equity value of $2.0 billion. The deal was announced in January 2024. 

Ambrx is advancing a portfolio of clinical and preclinical programs in multiple cancer indications, including: ARX517, an antibody drug conjugate (ADC) for prostate cancer; ARX788, an ADC for breast cancer; and ARX305, an ADC for renal-cell carcinoma.  

Under the agreement, J&J acquired all of the outstanding shares of Ambrx’s common stock for $28.00 per share in cash through a merger of Ambrx with a subsidiary of J&J.  

Source: Johnson & Johnson