Merck boosts immunotherapy portfolio via another acquisition
In a further move to boost its oncology and immunotherapy assets, US pharma giant Merck & Co (NYSE: MRK) has entered into a definitive agreement to acquire Tilos Therapeutics, a privately held biopharmaceutical company developing therapeutics targeting the latent TGFβ complex for the treatment of cancer, fibrosis and autoimmune diseases.
Lexington, Massachusetts-based Tilos was founded in 2016 by Boehringer Ingelheim Venture Fund and Partners Innovation Fund, based on discoveries by the laboratory of Dr Howard Weiner at Brigham and Women’s Hospital and Harvard Medical School. Additional investment was provided by ShangPharma Innovation Fund.
Shares of Merck were up 0.86% in pre-market trading, but had dropped back 0.73% to $81.85 by mid-morning.
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