Biotech Values

[DewDiligence]

JNJ acquires—(private)—Halda Thearapeutics for $3.05B cash:

https://www.globenewswire.com/news-release/2025/11/17/3189145/0/en/Halda-Therapeutics-Announces-Acquisition-by-Johnson-Johnson.html

HLD-0915 is an innovative bifunctional small molecule therapy designed to selectively target prostate cancer tumors cells by holding together, with defined orientation and purpose, androgen receptor (AR, a tumor-specific intracellular targeting protein) and a protein with essential function (effector protein), BRD4. The ternary complex drives the formation of new protein-protein interactions, abrogating BRD4 function selectively within cancer cells which results in an anti-tumor effect. In preclinical prostate cancer models, orally delivered HLD-0915 treatment resulted in tumor shrinkage and declines in prostate-specific antigen (PSA), while delivering a favorable therapeutic index including in models of drug resistance. Halda has presented initial Phase 1 clinical data of HLD-0915 in mCRPC patients demonstrating safety, pharmacokinetics, and efficacy.

I.e., Halda’s lead compound is only in phase-1, which makes the $3B buyout price rather impressive.