Johnson & Johnson signed a definitive agreement to acquire biotechnology company Halda Therapeutics for $3.05 billion on November 17, 2025[1][2]. Halda Therapeutics develops experimental drugs for prostate cancer using an innovative technology called PROTAC[2]. PROTAC is a new type of molecule capable of capturing disease proteins and delivering them to the cellular "garbage can", thereby eliminating them[2]. This is the first major acquisition of a startup company built on this technology that has no drugs approved to date[2]. The PROTAC technology comes from the lab of Yale University chemist Craig Crews and has attracted a lot of interest from the pharmaceutical industry over the past decade[2]. The transaction is expected to close in the coming months, subject to regulatory conditions, including antitrust approval[1]. Until the transaction closes, Johnson & Johnson and Halda Therapeutics will continue to operate as separate and independent companies[1].