Oncolytics Biotech Inc T.ONC

Merck USA rumored to possibly acquire Seagen

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Pharmaceutical giant Merck is exploring a possible purchase of biotech company Seagen, according to The Wall Street Journal.

No deal is imminent, sources told the publication, noting the challenge of regulatory approval given that Merck has a market value of $215 Billion while Seagen has a market value of $30 Billion.  If Merck does not go through with the purchase, the companies could reach a marketing deal.

The two companies are currently collaborating on two projects. The first is an antibody-drug, ladiratuzumab vedotin, which is designed to target tumors expressing LIV-1, a zinc transporter protein. The other is for Tukysa (tucatinib) in combination with trastuzumab in patients with previously treated HER2-positive metastatic colorectal cancer (mCRC). The latter recently achieved positive topline results in a Phase II MOUNTAINEER clinical trial.

https://www.biospace.com/article/merck-looks-into-possible-buyout-of-seagen/

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Merck had formed a partnership with Seagen through an exclusive license to commercialize Seagen's Tukysa in several regions outside the U.S. and Canada. Seagen, formerly Seattle Genetics, received $125 million upfront from Merck and could earn an additional $65 million for progress-dependent milestones.