Merck Announces The Acquisition Of TGFβ Focused Tilos Therapeutics
Merck & Co., Inc. (MRK) is a global healthcare solutions provider that has been working towards bringing forward medicine and vaccines for some the of the world’s most challenging diseases for more than a century. They are committed to increasing health care access and continue to be at the leading edge of research.
This week Merck announced that it is acquiring a privately owned biopharmaceutical company, Tilos Therapeutics. Founded by Boehringer Ingelheim Venture Fund and Partners Innovation Fund, Tilos mainly focusses on TGFβ a potent cytokine that plays an important role in the treatment of cancer and fibrotic diseases.
Dr. Dean Li, senior VP, discovery and translational medicine, Merck stated, “Tilos has developed a compelling portfolio of candidates that employ a novel approach to modulating the potent signaling molecule TGFβ by binding to latency-associated peptide, with potential applications across a range of disease indications.”
It was reported that Merck will be buying all outstanding shares of Tilos through a subsidiary for approximately $773 million in an upfront payment including contingent milestone payments, as per the terms of the agreement.
Dr. Barbara Fox, CEO, Tilos stated “This agreement with Merck, an industry leader in biopharmaceutical research and development, provide meaningful validation for our therapeutic approach and best positions our pipeline for broad clinical and commercial success.” as reported.
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