Johnson & Johnson will acquire Firefly Bio for $1 billion in cash, adding a new “degrader-antibody conjugate” (DAC) platform to its oncology pipeline. The deal gives J&J access to Firefly’s Firelink technology, which uses catalytic protein degraders rather than cytotoxic payloads typical of antibody-drug conjugates (ADCs), aiming to improve selectivity and payload delivery. Firefly’s lead program targets KRAS-driven tumors, with preclinical data described as showing tumor volume reductions after a single administration at low doses. J&J said the approach could help overcome payload-release limitations seen in some ADC designs. The companies expect the acquisition to close later this year. The move further underscores J&J’s push into next-generation antibody-based modalities as patent pressure continues to reshape revenue dynamics in established cancer franchises.