Johnson & Johnson (NYSE:JNJ) on Monday agreed to acquire Halda Therapeutics OpCo, Inc. for $3.05 billion in cash.

Halda is a clinical-stage biotechnology company with a proprietary Regulated Induced Proximity Targeting Chimera (RIPTAC) platform to develop oral, targeted therapies for multiple types of solid tumors, including prostate cancer.

The transaction is expected to close within the next few months.

The lead candidate, HLD-0915, is a clinical-stage therapy for prostate cancer.

“This acquisition further strengthens our deep oncology pipeline with an exciting lead asset in prostate cancer and a platform capable of treating multiple cancers and diseases beyond oncology, providing a potential mid- and long-term catalyst ...