Montgomery County, Maryland-based BeneVir Biopharm, Inc. To Be Acquired By Janssen Biotech, Inc. For Up To $1.04B
BeneVir Biopharm, Inc. (BeneVir), a privately-held Montgomery County biotech company, has entered into an agreement under which it will be acquired by Janssen Biotech, Inc., a Johnson & Johnson company for up to $1.04 billion. Under the terms of the agreement, Janssen will make an upfront cash payment of $140 million at closing of the transaction, plus additional contingent payments of up to $900 million based on achievement of certain predetermined milestones. BeneVir was a client of BioHealth Innovation (BHI) from 2013 until its Series A investment in 2014.
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