Merck (NYSE:MRK) has agreed to supply the U.S. government with the biological therapeutic CD24Fc if FDA authorizes the use of the drug. The drug played a central role in Merck’s decision to acquire privately held OncoImmune, which had touted CD24Fc as its “lead compound.” Merck plans on renaming the CD24Fc therapy MK-7110. (We recently profiled the…
Merck to buy OncoImmune and its potential COVID treatment for $425M
Merck (NYSE: MRK) recently announced that it will pay $425 million in cash to acquire privately-held biopharmaceutical company OncoImmune and its potential COVID-19 treatment. OncoImmune’s CD24Fc is a first-in-class recombinant fusion protein that targets the innate immune system. OncoImmune recently announced positive top-line findings from an interim efficacy analysis of a Phase 3 study evaluating…