The deal includes $785 million in initial payments, a collaboration on in vivo CAR-T therapies for immune-mediated diseases, and a $465 million equity investment in Sail.
Johnson & Johnson said it has entered strategic agreements with Sail Biomedicines to develop in vivo CAR-T therapies for immune-mediated diseases and secured an exclusive option to acquire the company for $2.58 billion. The arrangement includes total initial payments of $785 million, including a $465 million equity investment, plus $140 million in contingent payments tied to development milestones. The companies will work on Sail’s lead immune-mediated disease program and broader platform, which is designed to generate CAR-T therapies directly in the body rather than through traditional cell therapy manufacturing. Johnson & Johnson said the approach could offer a more scalable path to durable disease control and potentially curative treatment, while expanding its immunology and CAR-T capabilities. If it exercises the option, the company expects the agreements to dilute adjusted operational earnings per share and adjusted earnings per share (non-GAAP profit metrics) by about $0.18 in 2026 and about $1.28 in 2027. The transactions remain subject to applicable regulatory approvals and other conditions.