Merck: to acquire OncoImmune for 425 million dollars
(CercleFinance.com) - Merck said it is going to acquire OncoImmune for 425 million dollars in cash, as the pharmaceutical giant seeks to boost its research-and-development pipeline in Covid-19, an area where the company has been lagging recently.
The drugmaker said that it will accelerate development of CD24Fc, a candidate for the treatment of patients with severe and critical Covid for which OncoImmune announced positive findings from a Phase 3 study.
The 203-participant trial showed a 60% higher probability of improvements compared to placebo, with the risk of death or respiratory failure cut by more than 50%, Merck said.
Before the findings, OncoImmune was a privately-held, clinical-stage biopharmaceutical firm specialising in the prevention of graft versus host disease (GVHD) following hematopoietic stem cell transplantation in patients with leukemia.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The drugmaker said that it will accelerate development of CD24Fc, a candidate for the treatment of patients with severe and critical Covid for which OncoImmune announced positive findings from a Phase 3 study.
The 203-participant trial showed a 60% higher probability of improvements compared to placebo, with the risk of death or respiratory failure cut by more than 50%, Merck said.
Before the findings, OncoImmune was a privately-held, clinical-stage biopharmaceutical firm specialising in the prevention of graft versus host disease (GVHD) following hematopoietic stem cell transplantation in patients with leukemia.
Copyright (c) 2020 CercleFinance.com. All rights reserved.