J&J takes equity stake in Sail Biomedicines with option to buy for $2.58 billion

J&J announced a collaboration with Sail Biomedicines, a Flagship Pioneering company developing in vivo CAR-T therapies for immune-mediated diseases. J&J made a $465 million equity investment and holds an exclusive option to acquire Sail for $2.58 billion. Initial payments total $785 million, with up to $140 million in milestone payments.

• Initial payments $785 million, including a $465 million equity investment
• Exclusive option to acquire Sail for $2.58 billion
• Up to $140 million in contingent development milestones
• Dilution of about $0.18 to 2026 adjusted EPS if the option is exercised