Janssen grabs up oncolytic virus company BeneVir

The Janssen Pharmaceuticals Inc. unit of Johnson & Johnson (NYSE:JNJ) is acquiring oncolytic virus company BeneVir Biopharm Inc. (Rockville, Md.).

BeneVir shareholders will receive $140 million up front and are eligible for $900 million in milestones, according to majority shareholder HC2 Holdings (NYSE:HCHC). The deal is due to close this quarter...