Merck Completes Acquisition of Harpoon Therapeutics, Inc.
11 Marzo 2024 - 6:15AM
Business Wire
Acquisition broadens oncology pipeline with
a portfolio of novel T-cell engagers including HPN328 (MK-6070), an
investigational delta-like ligand 3 (DLL3) targeting T-cell
engager
Merck (NYSE: MRK), known as MSD outside of the United States and
Canada, today announced the completion of the acquisition of
Harpoon Therapeutics, Inc. (Nasdaq: HARP). Harpoon is now a
wholly-owned subsidiary of Merck, and Harpoon’s common stock will
no longer be publicly traded or listed on the Nasdaq Stock
Market.
“We continue to augment and diversify our oncology pipeline with
innovative approaches to help people with cancer worldwide,” said
Dr. Dean Y. Li, president, Merck Research Laboratories. “We are
pleased to welcome our Harpoon colleagues to Merck and look forward
to working together to advance a novel portfolio of T-cell
engagers, including MK-6070.”
Harpoon’s lead candidate, MK-6070 (formerly known as HPN328), is
a T-cell engager targeting delta-like ligand 3 (DLL3), an
inhibitory canonical Notch ligand that is expressed at high levels
in small cell lung cancer (SCLC) and neuroendocrine tumors. The
safety, tolerability and pharmacokinetics of MK-6070 is currently
being evaluated as monotherapy in a Phase 1/2 clinical trial
(NCT04471727) in certain patients with advanced cancers associated
with expression of DLL3. The study is also evaluating MK-6070 in
combination with atezolizumab in certain patients with SCLC. In
March 2022, the U.S. Food and Drug Administration (FDA) granted
Orphan Drug Designation to MK-6070 for the treatment of SCLC.
Additional pipeline candidates include HPN217, a T-cell engager
targeting B-cell maturation antigen (BCMA), currently in Phase 1
clinical development for the treatment of patients with
relapsed/refractory multiple myeloma, and several preclinical stage
candidates, including HPN601, a conditionally activated targeting
epithelial cell adhesion molecule (EpCAM) for the treatment of
certain patients with EpCAM expressing tumors.
Transaction details Under the terms of the merger
agreement, Merck, through a subsidiary, has acquired all
outstanding shares of Harpoon. As previously disclosed, this
transaction is being accounted for as an asset acquisition. Merck
is recording a non-tax deductible charge to R&D expense of
approximately $650 million. The impact of the transaction on
expected full-year non-GAAP EPS is approximately $0.26 per share,
which was included in Merck’s full-year 2024 financial outlook
issued on February 1, 2024.
Merck’s focus on cancer Our goal is to translate
breakthrough science into innovative oncology medicines to help
people with cancer worldwide. At Merck, the potential to bring new
hope to people with cancer drives our purpose and supporting
accessibility to our cancer medicines is our commitment. As part of
our focus on cancer, Merck is committed to exploring the potential
of immuno-oncology with one of the largest development programs in
the industry across more than 30 tumor types. We also continue to
strengthen our portfolio through strategic acquisitions and are
prioritizing the development of several promising oncology
candidates with the potential to improve the treatment of advanced
cancers. For more information about our oncology clinical trials,
visit https://www.merckclinicaltrials.com/.
About Merck At Merck, known as MSD outside of the United
States and Canada, we are unified around our purpose: We use the
power of leading-edge science to save and improve lives around the
world. For more than 130 years, we have brought hope to humanity
through the development of important medicines and vaccines. We
aspire to be the premier research-intensive biopharmaceutical
company in the world – and today, we are at the forefront of
research to deliver innovative health solutions that advance the
prevention and treatment of diseases in people and animals. We
foster a diverse and inclusive global workforce and operate
responsibly every day to enable a safe, sustainable and healthy
future for all people and communities. For more information, visit
www.merck.com and connect with us on X (formerly Twitter),
Facebook, Instagram, YouTube and LinkedIn.
Forward-Looking Statement of Merck & Co., Inc., Rahway,
N.J., USA This news release of Merck & Co., Inc., Rahway,
N.J., USA (the “company”) includes “forward-looking statements”
within the meaning of the safe harbor provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These statements
are based upon the current beliefs and expectations of the
company’s management and are subject to significant risks and
uncertainties. There can be no guarantees with respect to pipeline
candidates that the candidates will receive the necessary
regulatory approvals or that they will prove to be commercially
successful. If underlying assumptions prove inaccurate or risks or
uncertainties materialize, actual results may differ materially
from those set forth in the forward-looking statements.
Risks and uncertainties include but are not limited to, general
industry conditions and competition; general economic factors,
including interest rate and currency exchange rate fluctuations;
the impact of pharmaceutical industry regulation and health care
legislation in the United States and internationally; global trends
toward health care cost containment; technological advances, new
products and patents attained by competitors; challenges inherent
in new product development, including obtaining regulatory
approval; the company’s ability to accurately predict future market
conditions; manufacturing difficulties or delays; financial
instability of international economies and sovereign risk;
dependence on the effectiveness of the company’s patents and other
protections for innovative products; and the exposure to
litigation, including patent litigation, and/or regulatory
actions.
The company undertakes no obligation to publicly update any
forward-looking statement, whether as a result of new information,
future events or otherwise. Additional factors that could cause
results to differ materially from those described in the
forward-looking statements can be found in the company’s Annual
Report on Form 10-K for the year ended December 31, 2023, and the
company’s other filings with the Securities and Exchange Commission
(SEC) available at the SEC’s Internet site (www.sec.gov).
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