J&J Acquires Experimental Eczema Drug in $1.25 Billion Cash Deal

Johnson & Johnson agreed to pay $1.25 billion for the rights to an experimental eczema treatment, the latest big pharma deal for a new type of drug that hits two biological targets at the same time.

In the all-cash deal, J&J will acquire NM26, a bispecific antibody that privately held Numab Therapeutics is preparing to put into mid-stage human studies, according to a statement Tuesday. The therapy targets two proteins that cause the itchiness and inflammation of eczema, also known as atopic dermatitis.

J&J is among a host of pharmaceutical companies investing in bispecific antibodies, which have become standard ...