Janssen Biotech, Inc.’s Acquisition of Bermekimab from XBiotech Inc.

On December 7, 2019, Janssen Biotech, Inc. (“Janssen Biotech”), a Janssen Pharmaceutical Company of Johnson & Johnson, announced that it entered a definitive agreement to acquire all rights to the investigational compound bermekimab from XBiotech Inc. Bermekimab is an anti-IL-1alpha monoclonal antibody in Phase 2 development for the treatment of atopic dermatitis and hidradenitis suppurativa, which are chronic, immune-mediated skin diseases. Cravath is representing Janssen Biotech in connection with the transaction.

The Cravath team is led by partner Robert I. Townsend III and includes associates Matthew L. Ploszek, Jin-Kyu Baek and Carly J. Goeman on M&A matters; partner J. Leonard Teti II and associate Andrew T. Davis on tax matters; partner David J. Kappos and associates F. Adam Abulawi and Somi A. Umolu on intellectual property matters; partner Jonathan J. Katz and associates Matthew J. Bobby and Sally Ye on executive compensation and benefits matters; partner Matthew Morreale on environmental matters; and practice area attorney Brian M. Budnick on real estate matters.