07:59 AM EDT, 07/11/2024 (MT Newswires) -- Johnson & Johnson ( JNJ ) said Thursday that it has completed its acquisition of Yellow Jersey, a de-merged subsidiary of Numab Therapeutics, in an all-cash transaction worth approximately $1.25 billion.

The pharmaceutical giant said the aim of the acquisition was to obtain the global rights to NM26, an investigational drug intended to treat patients with the skin disease atopic dermatitis, and which is about to enter phase 2 trials.

"Our investment in NM26, and other bispecific antibodies, is another important step towards our mission of durable, symptom-free remission for all patients living with immune-mediated diseases," Candice Long, Johnson & Johnson's ( JNJ ) worldwide vice president of immunology, said in a statement.

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