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Revolution Picks Up Remains Of EQRx In All-Stock Deal

Deal Aimed At Beefing Up Balance Sheet

 
• By Alaric DeArment

Revolution Medicines is looking to pump the $1bn it will get from the acquisition into its RAS inhibitor pipeline, with trials planned to start in 2024.

Revolution Medicines will acquire EQRx in an all-stock deal • Source: Shutterstock

Revolution Medicines, Inc. is looking to add $1bn to its balance sheet to fuel its development plans via an all-stock deal to acquire troubled drug maker EQRx, Inc., which saw its hopes of building a company around a “me-too” drug-development model in a bid to lower costs finally crumble just months ago.

Revolution and EQRx said 1 August that they had agreed to a deal whereby EQRx shareholders would receive about 7.7...

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