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 Picks Up Remains Of EQRx In All-Stock Deal
Deal Aimed At Beefing Up Balance Sheet
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.
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