Merck snaps up a German immuno-oncology upstart in a $603M bolt-on deal
Munich-based Rigontec is delivering a solid return for its venture backers. Merck $MRK has struck a rare deal to buy the biotech for $150 million in cash and another $453 million in milestones, snapping up a 3-year-old fledgling that raised just €30 million to get to this point.
For Merck it’s another example of how Roger Perlmutter likes to augment the work being done around its PD-1 superstar Keytruda with the occasional add-on. It’s a small deal for the pharma giant, and he’s clearly impressed with the potential the Bonn University spinout has in activating RIG-I as a key pathway in the innate immune system.
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