Johnson & Johnson has agreed to acquire South San Francisco–based Firefly Bio, Inc. for $1 billion in cash, bringing an innovative degrader antibody conjugate (DAC) platform called Firelink into its oncology pipeline.
The Firelink platform fuses antibody targeting with protein degrader payloads to selectively deliver degraders to tumor cells, especially those driven by KRAS mutations historically considered "undruggable."
The acquisition is expected to close later in 2026, pending regulatory approvals and other customary closing conditions, and aims to diversify J&J’s oncology pipeline with multiple preclinical candidates for hard‑to‑treat solid tumors.
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