Merck Inc. acquires Afferent Pharmaceuticals and with it AF 201 treatment for cough

Merck and Afferent Pharmaceuticals announced that the two companies have signed a definitive agreement under which Merck will acquire this privately held pharmaceutical company. Afferent Pharmaceuticals is a leader in the development of therapeutic candidates targeting the P2X3 receptor for the treatment of common, poorly-managed, neurogenic conditions. Afferent�s lead investigational candidate, AF 219, is a selective, non-narcotic, orally-administered P2X3 antagonist currently being evaluated in a Phase IIb clinical trial for the treatment of refractory, chronic cough as well as in a Phase II clinical trial in idiopathic pulmonary fibrosis (IPF) with cough. Under terms of the agreement, Merck, through a subsidiary, will acquire all outstanding stock of Afferent in exchange for an upfront payment of $500 million in cash. Also, Afferent shareholders will be eligible to receive a total of up to an additional $750 million associated with the attainment of certain clinical development and commercial milestones for multiple indications and candidates, including AF-219.