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Merck to Acquire OncoImmune for $425 Million in Cash | Aspen Xchange
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Merck will acquire clinical-stage biopharmaceutical company OncoImmune for $425 million, per a definitive agreement announced this week. This comes just two months after OncoImmune’s COVID-19 therapeutic candidate CD24Fc demonstrated efficacy during an interim analysis of Phase III data. Prior to the completion of the acquisition, OncoImmune will spin-out certain rights and assets unrelated to the CD24Fc program to a new entity to be owned by the existing shareholders of OncoImmune; and Merck will invest $50 million and become a minority shareholder in the new entity. The closing of the acquisition is expected before the end of 2020.
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