(Reuters) -Johnson & Johnson ( JNJ ) said on Monday it would buy privately held Halda Therapeutics for $3.05 billion in cash, expanding the medtech conglomerate's presence in solid tumors and prostate cancer treatments.

This follows J&J's $14.6 billion acquisition of neurological drug maker Intra-Cellular Therapies in January.

Halda's lead drug candidate, HLD-0915, is in early to mid-stage development for the treatment of prostate cancer. The company also has several early-stage experimental treatments for breast, lung and other types of tumors.

J&J expects the deal to close within the next few months.