Germany's Merck KGAA has opted not to take a hands-on approach in developing Chimeric Antigen Receptor T-cell therapies and has instead changed its previous drug development deal with US-based Intrexon Corp., trading rights to potential CAR-T therapies for stock in the biotech.
Under the new arrangement, announced Dec. 20, Intrexon will issue the family-controlled German pharma $150m in shares and a $25m convertible note for stock in either Intrexon or its wholly-owned...