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Harpoon Therapeutics

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business2 years ago•1 min saved

"Merck's $680M Acquisition of Harpoon Therapeutics Sends Stock Soaring 111%"

Merck & Co announces its acquisition of cancer drug developer Harpoon Therapeutics for $680 million, aiming to strengthen its oncology portfolio with immunotherapies as it prepares for potential competition for its blockbuster drug Keytruda. The deal offers a 118% premium to Harpoon's last stock close, causing its shares to more than double. Harpoon is known for its early-stage development of two immunotherapies for lung cancer and multiple myeloma, which harness the body's immune system to combat cancer.

via Reuters|

#acquisition #business #harpoon-therapeutics

business-healthcare2 years ago•13 min saved

Merck's Acquisition of Harpoon Therapeutics Boosts Oncology Portfolio

Merck, through a subsidiary, will acquire Harpoon Therapeutics for $680 million, further diversifying its oncology pipeline with the addition of HPN328, an investigational delta-like ligand 3 (DLL3) targeting T-cell engager being evaluated in certain patients with small cell lung cancer and neuroendocrine tumors. The acquisition reflects Merck's commitment to enhancing its oncology pipeline through strategic acquisitions and advancing breakthrough science to address the needs of cancer patients worldwide. Harpoon's lead candidate, HPN328, is currently being evaluated in a Phase 1/2 clinical trial, and the acquisition is expected to close in the first half of 2024.

via Merck|

#acquisition #business-healthcare #cancer