Merck acquires IOmet Pharma
Expanding immuno-oncology development program
“By harnessing the power of the immune system, we are already witnessing great advancements in the treatment of cancer,” said Eric Rubin, M.D., vice president and therapeutic area head, oncology early-stage development, Merck Research Laboratories. “The acquisition of IOmet is a further example of Merck’s commitment to fully realizing the potential of this rapidly evolving field through our existing innovative portfolio as well as the acquisition of promising immunotherapeutic candidates.”
“Merck’s leadership in immuno-oncology and expertise in development combined with the potential of our IDO1 and TDO programs creates significant opportunity for us to advance the treatment of cancer,” said Alan Wise, Ph.D., CEO, IOmet. “As a company we have benefited from proximity to world class life sciences research including the University of Dundee, an early stage collaborator with us on the IDO1 and TDO programs and from supportive shareholders including the Scottish Investment Bank. We now look forward to joining Merck and feel that this acquisition underscores the shared commitment we have to accelerating our programs to bring solutions to people who need them most.”
Financial terms of the acquisition were not disclosed.
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