Sector News

Merck buys OncoEthix for $375m

December 19, 2014
Life sciences
Just days after announcing its mega-deal with Cubist Merck & Co is on the acquisition trial again with its sights set on private Swiss cancer biotech OncoEthix.
The drug giant, which is known as MSD outside the US and Canada, said today it is acquiring the firm to expand its oncology profile, taking OncoEthix’ novel oral BET (bromodomain) inhibitors – including lead candidate OTX015 – into its fold.
OTX015, which is currently being tested in Phase Ib studies for the treatment of haematological malignancies and advanced solid tumours, “has demonstrated early promising activity” and “strategically complements” Merck’s immuno-oncology development program, the firm said.
From the other side, OncoEthix said it is confident that the deal “best positions OTX015 to be developed to its full potential in areas of high unmet medical need”.
Under the deal, Merck will hand out an upfront payment of $110 million to OncoEthix, as well as additional milestone payments of up to $265 million if certain clinical and regulatory events are achieved.
By Selina McKee
Source: Pharma Times

Related News

September 18, 2020

Eli Lilly, Amgen join forces to scale production of COVID-19 antibody cocktails

Life sciences

Months of fervid research have whittled away most potential options to treat patients with COVID-19, a group of antibody cocktails still hold promise. Eli Lilly believes so strongly in its contender that it’s […]

September 16, 2020

Takeda unveils new Boston R&D manufacturing center for cell therapy pipeline push

Life sciences

Japanese drugmaker Takeda has trumpeted its plan in recent years to cut billions of dollars in costs and pivot around oncology and rare diseases. A key part of that strategy […]

September 15, 2020

AstraZeneca, Oxford restart stalled COVID-19 test as Pfizer ramps up trial numbers for its vaccine

Life sciences

Just under a week after it stopped its key phase 3 pandemic vaccine test, AstraZeneca and the University of Oxford have been given the green light to restart in the […]