Merck acquires Tilos Therapeutics for $733 million
Merck & Co. Inc, makes its second massive deal with a cancer therapy developer recently. The company made an agreement to purchase Tilos Therapeutics for up to $773 million, writes John George for bizjournals.com.
Merck is headquartered in Kenilworth, NJ and is one of the largest pharmaceutical companies in the world.
Tilos Therapeutics is a biopharmaceutical company based in Lexington, Massachusetts. Tilos has created a wide range of potential new drugs.
“[Tilos] has developed a portfolio of new drug candidates that employ a novel approach to modulating the potent signaling molecule known as TGFβ. TGFβ is believed to play an important role in the development of cancer and fibrotic diseases. Tilos is developing treatments not only for cancer, but also for fibrosis and autoimmune disorders,” writes John George.
In the specifics of the deal, Merck is supposed to make a payment to Tilos upfront in an undisclosed amount. Tilos will be eligible for a variety of milestone payments as goals are met.
“This agreement with Merck, an industry leader in biopharmaceutical research and development, provides meaningful validation for our therapeutic approach and best positions our pipeline for broad clinical and commercial success,” said Tilos CEO Dr. Barbara Fox.
Just last month Merck also acquired Peloton Therapeutics in an enormous $2.2 billion deal. Peloton has a new drug candidate for experimental therapy for renal cell carcinoma.
For more information visit bizjournals.com.
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