BioPharma Dive November 21, 2022
The deal is Merck’s second notable acquisition of a cancer drugmaker in the past year and a half, part of a strategy to diversify beyond Keytruda.
Merck & Co. has agreed to acquire Imago BioSciences, a California-based biotechnology company focused on bone marrow disorders, for more than $1 billion in cash.
The deal announced Monday values Imago at $1.35 billion, or $36 a share, more than double the stock’s $17.40 closing price on Friday. In July 2021, the biotech company priced shares in an initial public offering at $16 apiece.
Imago’s lead drug, called bomedemstat, is in Phase 2 testing for the treatment of myeloproliferative neoplasms and other bone marrow diseases.
The deal, which Merck expects to close in the...
Today's Sponsors
Today's Sponsor