Johnson & Johnson (NYSE: JNJ)-owned Janssen Pharmaceuticals Inc. has acquired biopharmaceutical business Xo1 Ltd. for an undisclosed amount.
Xo1, headquartered in Cambridge, England, is working to develop an anti-clotting drug that could be used to treat thrombosis, which causes blood clots in leg veins. The company raised $11 million from venture capital firm Index Ventures in 2013.
Janssen focuses on drugs related to cardiovascular and metabolic diseases, immunology, infectious disease, neuroscience and oncology.
Recent pharmaceutical deals have come from AbbVie Inc. (NYSE: ABBV), which beat out Johnson & Johnson to buy Pharmacyclics Inc. earlier in March for $21 billion, and Genzyme Corp., which agreed to pay up to $945 million for brain disease treatments in February.