J&J to buy cancer therapy developer Ambrx for $2 bln

Ambrx Biopharma Inc. is a clinical-stage biopharmaceutical company. The Company is focused on discovering and developing antibody drug conjugates (ADCs) and other engineered therapies to modulate the immune system. It is advancing a focused portfolio of clinical and preclinical programs designed to optimize efficacy and safety in multiple cancer indications, including ARX517, its antibody-drug conjugate (ADC) targeting the prostate-specific membrane antigen (PSMA) and ARX788, its ADC targeting Human epidermal growth factor receptor 2 (HER2). It uses genetic code technology platform to discover and develop engineered precision biologics. Its genetic code technology platform allows to incorporate, in a site-specific manner, synthetic amino acids (SAA), into proteins within living cells. Its SAA incorporation technology is designed to develop a range of product candidate modality, such as modified cytokines and bispecific antibodies, and others.