STAT+: J&J spends $1 billion to enter KRAS race for cancer treatments

STAT PlusBiotech J&J spends $1 billion to enter KRAS race for cancer treatments Acquisition of Firefly Bio follows field-changing Revolution Medicines data Manage alerts for this article Email this article Share this article By Jason MastJune 8, 2026 General Assignment Reporter Jason Mast[email protected]Jason is a general assignment reporter, with particular focus on genetic medicine and rare disease. Confidential tips can be sent on Signal at JasonMast.77. Johnson & Johnson said Monday it will purchase the startup Firefly Bio for $1 billion in an effort to expand its work in the suddenly buzzy field of KRAS inhibitors. The deal comes less than two months after Revolution Medicines showed that a KRAS-targeted drug could nearly double survival in metastatic pancreatic cancer, one of the most intractable tumors known to medicine. Advertisement KRAS has long been in the sights of drug developers, because mutant forms of the gene and protein are found in around 30% of all tumors. But before Revolution Medicines, companies had struggled to find molecules that could latch on to and shut down a protein. Chemists compared the protein to a “greasy ball.” STAT+ Exclusive Story Already have an account? Log in This article is exclusive to STAT+ subscribers Unlock this article — plus daily coverage and analysis of the biotech sector — by subscribing to STAT+. Already have an account? Log in Monthly $39 Totals $468 per year $39/month Get Started Totals $468 per year Starter $30 for 3 months, then $399/year $30 for 3 months Get Started Then $399/year Annual $399 Save 15% $399/year Get Started Save 15% 11+ Users Custom Savings start at 25%! Request A Quote Request A Quote Savings start at 25%! 2-10 Users $300 Annually per user $300/year Get Started $300 Annually per user View All Plans To read the rest of this story subscribe to STAT+. Subscribe Log In biotechnology, Cancer, drug development, Johnson & Johnson, Pharmaceuticals, STAT+ Submit a correction requestReprints Jason Mast General Assignment Reporter Jason is a general assignment reporter, with particular focus on genetic medicine and rare disease. Confidential tips can be sent on Signal at JasonMast.77. Newsletter Critical updates on the fast-moving world of cancer research, treatment, and patient care Recommended The Readout June 8, 2026 STAT Plus: Novo underwhelmed by drug it once fought Pfizer for Biotech June 8, 2026 STAT Plus: Combination of pancreatic cancer drugs from Tango, Revolution leads to high response rate Advertisement Opinions+ June 8, 2026 $2 million gene therapy cures require a financing model Pharma June 6, 2026 STAT Plus: Lilly shares safety, tolerability data on its next-gen obesity drug Pharma June 6, 2026 STAT Plus: Detailed data show Pfizer’s monthly obesity drug continues to show potential Subscriber Picks