May 23 Business cocktail

The Business Cocktail

Merck decides to acquire Peloton Therapeutics, fortifying Oncology pipeline

Merck is ready to buy Peloton Therapeutics for USD 1.1 million. The companies have entered into a definitive agreement which will give Merck rights over an oral HIF-2α inhibitor- PT2977, which is Peloton’s lead candidate for the treatment of renal cancer. The collaboration will help Merck achieve its goal to develop novel therapies through innovative research for the treatment of cancer. PT2977 here is underway for multiple clinical studies specifically for von Hippel-Lindau (VHL) disease-associated renal cell carcinoma (RCC).

Amgen to buy a drug discovery company Nuevolution

Amgen has announced to buy Nuevolution– a Scandinavian dug maker biopharmaceutical company. The whole deal had cost Amgen a sum of USD 167 million. The acquisition will let Amgen have control over Nuevolution’s excessive cancer pipeline. In the past decade, Nuevolution has made its name by signing deals with various major Pharma and Biotech companies like GlaxoSmithKline, Johnson & Johnson, Merck and Novartis.

Market success of Keytruda makes royalties an attractive asset

Merck’s blockbuster cancer immunotherapy Keytruda has been adding to the revenue of Merck so far. The rising sales of the drug have resulted in a Canadian government pension plan shelling out USD 1.3 billion in buying partial shares to Keytruda from Lifearc. Lifearc is a charity responsible for handling intellectual property rights on discoveries made under the United Kingdom’s Medical Research Council.

K2HV nets USD 400 Million to support Healthcare

K2 HealthVentures has raised USD 400 Million to support healthcare and life sciences companies. The company has decided to provide debt financing to enable companies to achieve research milestones. Financing and support worth USD 10 million to USD 50 million to help pharma companies grow over the long term.

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