Reportedly, Merck & Co., Inc. (MRK) and VelosBio Inc have entered a definitive agreement under which Merck, will acquire all outstanding shares of VelosBio for $2.75B in cash through a subsidiary, subject to certain customary adjustments.
VelosBio, a private owned clinical-stage biopharmaceutical company working to develop first-in-class cancer therapies concentrating on receptor tyrosine kinase-like orphan receptor 1 (ROR1). VelosBio’s VLS-101, an antibody-drug conjugate targeting ROR1 is currently under Phase 1 and a Phase 2 clinical trial for the treatment of patients suffering from hematologic malignancies and solid tumors, respectively.
“Merck is a recognized leader in oncology, and this acquisition reflects the hard work and commitment of all the employees at VelosBio in advancing the science of ROR1. We are very pleased that Merck has recognized the value of our first-in-class ROR1-directed investigational therapeutics. As part of Merck’s oncology pipeline, our lead product candidate, VLS-101, is now well-positioned to achieve its maximum potential to benefit appropriate cancer patients in need.” stated Dave Johnson, founder, and chief executive officer at VelosBio.
The deal is expected to close by the end of 2020 and is under approval by the Hart-Scott-Rodino Antitrust Improvements Act and other customary conditions.
Merck & Co., Inc. (MRK) is a global healthcare solutions provider that has been working towards bringing forward medicine and vaccines for some of the world’s most challenging diseases for more than a century. They are committed to increasing health care access and continue to be at the leading edge of research. Merck has the industry’s largest immuno-oncology clinical research program. To learn more about Merck (MRK) and to track its ongoing progress please visit the Vista Partners Merck Coverage Page.
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