Janssen pays $750M for XBiotech's dermatology candidate after positive Phase II data

After searching for a new candidate to add to its immuno-dermatology pipeline, Janssen Biotech Inc. will spend $750 up front to acquire bermekimab, a clinical anti-IL-1α antibody, from XBiotech Inc. The mAb is first being developed in atopic dermatitis and hidradenitis suppurativa.

The sale sent shares of XBiotech Inc. (NASDAQ:XBIT) up $8.38 (75%) to $19.50, adding over $340 million to its market cap...