Shots:
- Merck to acquire all outstanding shares of Oncolmmune for $425 M in cash as an upfront. Additionally, Oncolmmune will receive sales-based and contingent payments on the achievement of the regulatory milestones
- The acquisition will give Merck control of CD24Fc which showed improvement in an interim efficacy analysis of a P-III study for the treatment of patients with severe and critical COVID-19. The acquisition is expected to be closed by the end of 2020
- Prior to the completion of the acquisition, OncoImmune will spin-out certain rights and assets unrelated to the CD24Fc program to a new entity owned by the existing shareholders. Merck will invest $50M in the new entity
Click here to read full press release/ article | Ref: BusinessWire | Image: San Diego Business Attorney
The post Merck to Acquire OncoImmune for 5M first appeared on PharmaShots.
