Merck Pays $2.75bn To Access VelosBio’s ROR1-Targeting ADCs
Private Biotech Raised $137m In Venture Capital In July
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).
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Merck's new CEO Robert Davis talked about his vision for business development and how the company might use the $9bn gained from the spinout of Organon.
The US firm gets development and co-commercial rights to MORAb-202 for $650m up front. BMS joins AstraZeneca, Merck & Co. and Gilead in recent ADC deal-making.
Emerging Company Profile: Denmark-based start-up ADCendo says it now has enough money to begin developing antibody-drug conjugates aimed at the novel cancer target uPARAP/Endo180 and deliver proof of concept in humans for one or more indications by the end of 2025.