Policy & Regulation
Merck signs contract to acquire Peloton Therapeutics
23 May 2019 -

United States-based Merck has signed a contract to acquire Peloton Therapeutics, a US-based clinical-stage biopharmaceutical firm, it was reported yesterday.

The deal is valued at around USD2.2bn. According to the contract, Merck's subsidiary will purchase all outstanding Peloton shares in exchange for an upfront payment of USD1.05bn in cash.

Peloton shareholders will also have an option to secure a further USD1.15bn contingent payments based on the achievement of future regulatory and sales milestones for certain candidates. The deal is likely to be completed in the third quarter of this year.

Merck Research Laboratories president Dr Roger Perlmutter said, 'Peloton scientists have applied their unique expertise in HIF-2 alpha biology to develop PT2977, which has already shown intriguing activity in the treatment of renal cell carcinoma.'