Merck Inc., acquires Modifi Biosciences Inc.
Modifi Biosciences, Inc. a leader in the development of direct DNA modification enabled cancer therapeutics, announced that the company has been acquired by Merck Inc., (known as MSD outside of the United States and Canada)
Under the terms of the agreement Merck, through a subsidiary, has acquired all outstanding shares of Modifi Biosciences for $30 million upfront. Modifi Biosciences shareholders are also eligible to receive potential milestone payments totaling up to $1.3 billion. Modifi Biosciences, a Yale University spinout company formed in 2021, has developed a novel class of small molecules that target cancer cells lacking expression of a key DNA repair protein called O6-methylguanine methyl transferase (MGMT). Modifi Biosciences’ research has been validated through its initial work published by the academic founders in Science in 2022, and subsequent compelling pre-clinical data across a number of tumor models including patient-derived xenograft models of gliomas and other cancers with intrinsic DNA repair defects.
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