In final days at Merck, Roger Perlmutter bets big on a little-known Covid-19 treatment
Roger Perlmutter is spending his last days at Merck, well, spending.
Two weeks after snapping up the antibody-drug conjugate biotech VelosBio for $2.75 billion, Merck announced today that it had purchased OncoImmune and its experimental Covid-19 drug for $425 million. The drug, known as CD24Fc, appeared to reduce the risk of respiratory failure or death in severe Covid-19 patients by 50% in a 203-person Phase III trial, OncoImmune said in September.
Keep reading Endpoints with a free subscription
Unlock this story instantly and join 107,000+ biopharma pros reading Endpoints daily — and it's free.