Merck Inc., acquires Peloton Therapeutics and with it PT 2977 , a novel oral HIF-2 alpha inhibitor to treat renal cell carcinoma

Merck Inc., known as MSD outside the United States and Canada, and Peloton Therapeutics, Inc. announced that the companies have entered into a definitive agreement under which Merck, through a subsidiary, will acquire privately held Peloton, a clinical-stage biopharmaceutical company focused on the development of novel small molecule therapeutic candidates targeting hypoxia-inducible factor-2 alpha (HIF-2 alpha) for the treatment of patients with cancer and other non-oncology diseases. Peloton�s lead candidate is PT 2977, a novel oral HIF-2 alpha inhibitor in late-stage development for renal cell carcinoma (RCC). Under terms of the agreement, Merck, through a subsidiary, will acquire all outstanding shares of Peloton in exchange for an upfront payment of $1.05 billion in cash. In addition, Peloton shareholders will be eligible to receive a further $1.15 billion contingent upon successful achievement of future regulatory and sales milestones for certain candidates.