Deal Watch: Merck Gets Rights To Yumanity’s Preclinical ALS, FTLD Candidates
Merck pays undisclosed upfront fees and promises up to $500m for milestones under licensing and collaboration agreement. Meanwhile, Tetraphase and Xerava are being acquired by La Jolla, after previous bids by Melinta and AcelRx.
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Company is ‘anxious to understand’ how to utilize the agency’s views on importance of biomarkers, exec notes in earnings call. Merck & Co. and Pfizer advance COVID-19 therapeutics into Phase III. Pfizer is awaiting FDA risk-benefit assessment of JAK-1 inhibitors Xeljanz and abrocitinib.
Yumanity goes public by merging with Proteostasis; it is accelerating its Parkinson’s program because of mouse model data showing disease-modifying potential. Proteostasis will out-license its CF assets.
Deal Snapshot: The $445m Cerevel gains will help as it plans to have at least six programs in the clinic within the next year. CEO Tony Coles will head up a public firm for the first time since Amgen bought Onyx.