Johnson & Johnson announced Monday morning it will acquire New Haven-based Halda Therapeutics for $3.05 billion in cash, the second multibillion dollar Connecticut biotech acquisition this year.
The deal brings Halda’s experimental cancer drug platform under the pharmaceutical giant’s umbrella as the clinical-stage company advances treatments for prostate cancer and other solid tumors.
The acquisition follows German pharmaceutical company Merck’s agreement in April to buy Stamford-based SpringWorks Therapeutics for $3.9 billion, part of a wave of consolidation as major pharmaceutical companies seek innovative drug pipelines.
Halda Therapeutics is developing a novel class of cancer therapies called RIPTAC (Regulated Induced Proximity Targeting Chimeras) therapeutics, which are small molecules that selectively target cancer cells and “kill” them.
Recently, Halda’s Chief Scientific Officer Kat Kayser-Bricker was honored as Entrepreneur of the Year in the bioscience industry.
Founded in 2019, Halda has raised $226.2 million over five funding rounds, including $126 million in August 2024.
The transaction requires approval under the Hart-Scott-Rodino Antitrust Improvements Act and is expected to close within the next few months. The companies will operate independently until then.
