Johnson & Johnson (JNJ) announced a definitive agreement with Swiss biotech Numab Therapeutics to acquire global rights to NM26, a phase II-ready bispecific antibody for atopic dermatitis (“AD”). To execute the deal, Numab Therapeutics will spin off its wholly-owned subsidiary called Yellow Jersey Therapeutics, which holds NM26 rights, to its shareholders. J&J will acquire Yellow Jersey Therapeutics from Numab’s shareholders for a purchase price of $1.25 billion in cash. AD is a common inflammatory disease ...