Johnson & Johnson has agreed to acquire Halda Therapeutics for $3.05 billion in cash, a deal announced on November 17 2025 that adds Halda’s RIPTAC (Regulated Induced Proximity Targeting Chimera) platform and its lead oral therapy, HLD‑0915, to the company’s oncology portfolio. HLD‑0915 targets metastatic castration‑resistant prostate cancer and has shown safety and early anti‑tumor activity in phase 1/2 studies, with 59 % of patients achieving a >50 % reduction in prostate‑specific antigen and 32 % achieving a >90 % reduction.
The acquisition expands J&J’s solid‑tumor offerings beyond its existing CAR‑T and antibody products, positioning the company to pursue a broader range of targeted oral therapies. J&J’s leadership has set a $50 billion oncology sales target by 2030, and the RIPTAC platform’s ability to engage tumor‑specific proteins while simultaneously disabling essential survival proteins offers a novel “hold‑and‑kill” mechanism that could overcome resistance seen with current therapies.
Halda, founded in 2019 by Yale University professor Craig Crews, has raised $202 million in total financing, including a $126 million Series B extension in August 2024. The company’s platform has been granted FDA Fast Track designation for HLD‑0915 in August 2025, and the platform is being advanced in breast, lung and other solid‑tumor indications. Market projections estimate that new prostate‑cancer diagnoses will reach 1.7 million worldwide by 2030, underscoring the commercial potential of an effective oral therapy.
J&J expects the transaction to close within the next few months, subject to antitrust clearance and customary conditions. The company has projected a $0.15 dilution to adjusted earnings per share in 2026, attributable to short‑term financing and a non‑recurring charge for equity awards to Halda employees at closing. J&J will provide further guidance for 2026 during its fourth‑quarter earnings call on January 21 2026, but the acquisition is already viewed as a mid‑ to long‑term catalyst for growth.
Jennifer Taubert, J&J’s Chair of Innovative Medicine, said the deal “strengthens our deep oncology pipeline with an exciting lead asset in prostate cancer and a platform capable of treating multiple cancers and diseases beyond oncology.” John Reed, J&J’s R&D head of Innovative Medicine, added that the early data “demonstrate impressive preliminary efficacy and a strong early safety profile.” Joaquin Duato, J&J’s CEO, reiterated the company’s $50 billion oncology sales goal, while Christian Schade, Halda’s President and CEO, highlighted the partnership as a tribute to the company’s scientific effort and a promise to accelerate development for patients.
J&J’s recent acquisitions, including Intra‑Cellular Therapies for $14.6 billion in January 2025 and Shockwave Medical for $13.1 billion in 2024, illustrate the company’s aggressive strategy to build a diversified oncology portfolio. Halda’s RIPTAC platform, which creates bifunctional small molecules that bind a tumor‑specific protein and a survival protein simultaneously, represents a first‑in‑class modality that could differentiate J&J’s offerings in a crowded market.
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