Rob Davis, Merck CEO (Credit: The Galien Foundation)

Mer­ck brings Har­poon Ther­a­peu­tics and its PhI/II T cell en­gager in­to the fold for $680M

Mer­ck has struck a deal to buy Har­poon Ther­a­peu­tics for $680 mil­lion, beef­ing up its on­col­o­gy pipeline with a port­fo­lio of T cell en­gagers.

At $23 per share, Mer­ck’s of­fer comes in at a 100%-plus pre­mi­um to Har­poon’s clos­ing stock price on Fri­day. Har­poon’s share price $HARP rose af­ter Bloomberg re­port­ed about the deal talks on Sun­day and is up by 112% to $22.41 Mon­day morn­ing fol­low­ing the deal an­nounce­ment.

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