J&J acquires rights to skin disorder drug for $1.25 billion

(Reuters) – Johnson & Johnson said on Tuesday it had agreed to acquire the rights to an experimental skin disorder treatment from privately held Numab Therapeutics for about $1.25 billion.

The drug, NM26, is currently in mid-stage development for the treatment of atopic dermatitis, a chronic disease that causes inflammation, redness and irritation of the skin.

Earlier this month J&J acquired Proteologix for $850 million, gaining access to the privately held company’s experimental atopic dermatitis treatments.

(Reporting by Christy Santhosh in Bengaluru; Editing by Anil D’Silva)