J&J to acquire Firefly Bio for $1 billion, boosting its KRAS-focused antibody-degrader program

Johnson & Johnson announced it will purchase Firefly Bio, a preclinical biotech, for $1 billion in cash.

Firefly Bio is developing degrader antibody conjugates that aim to target KRAS-driven cancers, a novel approach championed by Nobel laureate Carolyn Bertozzi.

The deal adds an early‑stage oncology platform to J&J’s pipeline and reflects the company’s continued activity in the 2026 pharma dealmaking wave.

The acquisition is expected to accelerate development of the technology, though the assets remain in preclinical stages and will require further validation.