Merck buys German immuno-oncology company in deal valued at up to $554M

Merck entered into a deal Wednesday to buy a German cancer immunotherapy company in a deal valued at up to $554 million. Merck will make an upfront payment of $137.3 million to Munich-based Rigontec. The deal also includes an additional $417 million in potential milestone payments. The transaction is subject to certain closing conditions. Immunotherapy is a rapidly expanding field in cancer therapy that seeks to im prove the ability of a patient’s own immune system to identify and destroy tumors. Rigontec’s…
Source: bizjournals.com Health Care:Pharmaceuticals headlines - Category: Pharmaceuticals Authors: Source Type: news