The pharmaceutical firm will pay $425m up-front for University of Michigan and Ohio State University-founded OncoImmune after the latter pivoted its research pipeline to target severe cases of covid-19.
OncoImmune, a US-based covid-19 treatment developer leveraging University of Michigan and Ohio State University research, is set to be acquired by drug developer Merck & Co in a $425m all-cash transaction.
Merck & Co will acquire OncoImmune through a subsidiary subject to customary regulatory conditions, with the deal anticipated to close before the end of 2020.
In addition to the up-front cash payment, OncoImmune’s exiting shareholders will receive money on the achievement of certain regulatory outcomes and a…
