US-based Johnson & Johnson (J&J) has completed the acquisition of a privately held clinical stage biopharmaceutical company, AliosBioPharma, for $1.75bn in cash.
Based in California, US, AliosBioPharma develops therapies for the treatment of viral diseases.
The company will now be included in the infectious diseases therapeutic area of the Janssen Pharmaceutical companies of J&J.
Johnson & Johnson chief scientific officer Paul Stoffels said: "The acquisition of AliosBioPharma further reflects our commitment to bringing together the best science from around the globe to address significant unmet need.
"Together we will further strengthen Janssen's infectious diseases pipeline to address the needs of patients and families affected by some of the world's most devastating diseases."
As part of the deal, J&J acquired Alios' therapeutics portfolio, including the compound AL-8176.
"Alios is currently carrying out Phase II trials of AL-8176 to treat infants with respiratory syncytial virus (RSV)."
Alios is currently carrying out Phase II trials of AL-8176 to treat infants with respiratory syncytial virus (RSV).
In addition, the acquisition includes two early-stage compounds for hepatitis C (HCV), which will expand Janssen's HCV portfolio.
The discovery and development platform of Alios includes a chemical library of nucleoside analogs, as well as virology-based screening systems.
The firm is developing therapeutics for viral infections, which are caused by RSV, influenza, rhinovirus, coronavirus and HCV.