On January 8, 2024, Ambrx Biopharma, a clinical-stage biopharmaceutical company using an expanded genetic code technology platform to discover and develop next-generation antibody drug conjugates (ADCs) and other engineered therapies to modulate the immune system, announced that it has entered into a definitive agreement in which Johnson & Johnson will acquire all of Ambrx’s outstanding shares for $28.00 per share in cash for a total equity value of approximately $2.0 billion. The transaction is expected to close in the first half of 2024, subject to customary closing conditions. Wilson Sonsini Goodrich & Rosati advised Ambrx Biopharma on patent matters related to the transaction.

Ambrx’s proprietary ADC technology incorporates the advantages of highly specific targeting monoclonal antibodies securely linked to a potent chemotherapeutic payload to achieve targeted and efficient elimination of cancer cells without the prevalent side-effects typically associated with chemotherapy. Johnson & Johnson scientists intend to work with Ambrx researchers, accelerating the Phase 1/2 APEX-01 study (NCT04662580) of ARX517 in advanced prostate cancer, while progressing a pipeline of novel product candidates.

The Wilson Sonsini patent team that advised Ambrx Biopharma on the transaction was led by Feng Tian and included Uale Taotafa, Brett Zirkle, and Mike Hostetler.

For more information, please see Ambrx Biopharma's press release.