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Janssen Biotech, an arm of Johnson & Johnson, will pay $140 million up front to acquire BeneVir Biopharm, a privately held firm developing oncolytic immunotherapies. BeneVir investors could get another $900 million if certain milestones are met. BeneVir was founded on technology discovered by NYU School of Medicine professor Ian Mohr. The firm engineers oncolytic viruses—which infect and kill cancer cells—to not be killed by the immune system.
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