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La Jolla’s Ambrx sold to Johnson & Johnson

commercial building in La Jolla for biotech company called Ambrx

La Jolla biotech company Ambrx has announced its sale to Johnson & Johnson for about $2 billion

A Jan 8 press release from the company states “Johnson & Johnson scientists intend to work with Ambrx researchers” to accelerate research on advanced prostate cancer, while continuing work on “pipeline of novel product candidates.” The sale price was based on Ambrx’s closing stock price on Jan 5; the transaction was unanimously approved by the Ambrx board of directors and is expected to close in the first half of the year. “We are excited to reach this agreement with Johnson & Johnson for advancing scientific research to treat cancers with high unmet needs,” Ambrx Chief Executive Daniel J. O’Connor said in the press release. “I look forward to what Ambrx will achieve as part of Johnson & Johnson.”
Picture of Elisabeth Frausto

Elisabeth Frausto

Elisabeth Frausto has been reporting on and writing about La Jolla since 2019. With dozens of local and state journalism awards to her name, Elisabeth knows the industry as well as she knows her community. When she’s not covering all things 92037, you’ll find her with coffee in hand staring at the sea.
Picture of Elisabeth Frausto

Elisabeth Frausto

Elisabeth Frausto has been reporting on and writing about La Jolla since 2019. With dozens of local and state journalism awards to her name, Elisabeth knows the industry as well as she knows her community. When she’s not covering all things 92037, you’ll find her with coffee in hand staring at the sea.

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