Merck to Buy Peloton Therapeutics
21 Mai 2019 - 2:00PM
Dow Jones News
By Chris Wack
Merck & Co. (MRK) said Tuesday that one of its units is
buying Peloton Therapeutics Inc., a clinical-stage
biopharmaceutical company.
Merck said in a release that a subsidiary would acquire 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.
The companies anticipate the acquisition will close in the third
quarter of 2019.
Peloton's lead candidate is PT2977, a novel oral
HIF-2<ALPHA> inhibitor in late-stage development for renal
cell carcinoma.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
May 21, 2019 07:45 ET (11:45 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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