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Merck & Co snaps up 3 yr-old German biotech firm for up to $550 mln

19:38 EDT 6 Sep 2017 | Topix

U.S. pharma group Merck & Co has acquired 3-1/2 year old German biotech start-up Rigontec for up to 464 million euros , adding a new approach to its development of drugs that spur the immune system to attack tumours. Merck, maker of promising cancer immunotherapy Keytruda, agreed to pay 115 million euros upfront for the Munich-based firm and up to 349 million euros on top, depending on regulatory and commercial achievements, the two companies said in a statement on Wednesday.

Original Article: Merck & Co snaps up 3 yr-old German biotech firm for up to $550 mln

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