Merck To Pay Up To $425m For Foghorn’s Gene Regulation Therapies
Major Deal For ‘Gene Traffic Control’ Company
US major continues its expansion in oncology with an early stage deal with Flagship Pioneering protegés.
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Merck continues its cancer deal streak, purchasing a pipeline of antibody-drug conjugates and bispecific antibodies against receptor tyrosine kinase-like orphan receptor 1 (ROR1).
Public Company Edition: Four health care special purpose acquisition vehicles went public and two others announced mergers, but only one biopharma firm priced an IPO during the week of 19-23 October. Replimune’s $250m offering led recent FOPOs.
Merck & Co. will pay Seattle Genetics $725m up front in cash under the two deals and make a $1bn equity investment in the company, providing financial flexibility to broadly fund the pipeline.