Deal snapshot: Viewing antibody-drug conjugates as a key to growing its cancer franchise beyond Keytruda, Merck & Co. will partner with C4 to develop protein degrader-antibody conjugates for cancer.
Who: Merck & Co./C4 Therapeutics
What: Merck will call on protein degradation specialist C4 to discover degrader molecules against an unspecified cancer target for use...
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The Kevin Tang-led firm will pay $4.38 per share for Cargo, which laid off most of its workforce following the failure of a Phase II CAR-T trial.
Concentra Biosciences is acquiring struggling IGM Biosciences for $1.25 per share plus a contingent value right, with the deal expected to close in August 2025.
The biopharma sector booked nearly the same number of acquisitions in each of the past two quarters, according to Evaluate data, but there are some encouraging signs in Q2.
Rumor mill suggests a $15bn licensing deal for ivonescimab is in the offing.
Public Company Edition: A breakthrough designation, data and deals prompted big follow-on public offerings in late June and early July, including $402.5m for Cidara, $250.8m for Kymera and $230m for Dyne. Also, Revolution Medicines accessed up to $2bn from Royalty Pharma.
KalVista’s Ekterly obtains US approval as the first oral, on-demand therapy for hereditary angioedema. It will compete with established injectables.
The biotech announced positive topline results from the Phase II SUMMIT study in non-advanced systemic mastocytosis, with data for advanced SM and GIST expected later this year.
