J&J locks up Sail Biomedicines' in vivo CAR-T with an equity stake and an acquisition option
Illustration (decorative, not data).Summary
Sail's platform engineers immune cells directly inside the patient to generate CAR-T, using its eRNA and nanoparticle delivery technology and skipping cell collection, ex vivo engineering and reinfusion. The collaboration first advances Sail's lead immune-mediated disease program (molecule not disclosed), aiming for an “immune reset” rather than long-term symptom control. J&J pays $785 million up front and holds an option to acquire the whole company; if exercised, the deal totals $2.58 billion. After AbbVie bought Capstan and Lilly bought Kelonia, in vivo CAR-T has become a standard big-pharma bet in autoimmunity.
Deal terms, as disclosed
$785M up front in total (incl. $465M equity investment) + up to $140M development milestones + acquisition option.
Summary of public disclosures, not investment advice. Amounts are as announced; milestone payments are contingent and may never be paid.
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