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Merck to Acquire Investigational Bispecific Antibody for B-Cell Associated Diseases From Curon Biopharmaceutical
As part of the acquisition of CN201, Curon is expected to receive an upfront payment of $700 million, with the opportunity to earn an additional $600 million in milestone payments linked to the drug's development and regulatory approval.
Image Credit: Adobe Stock Images/FoxGrafy
Merck has agreed to terms on the acquisition of CN201, a novel bispecific antibody aimed at treating B-cell associated diseases, developed by Curon Biopharmaceutical. According to Merck, full rights will be acquired through a subsidiary, providing Curon with an upfront payment of $700 million. Curon will be eligible for up to an additional $600 million pending the completion of milestones related to drug development and regulatory approval.1
“We continue to identify opportunities to expand and diversify our pipeline,” said Dean Y. Li, president, Merck Research Laboratories, in a press release. “Early clinical data have provided robust evidence for the potential of CN201 to target and deplete circulating and tissue B cells with the potential to treat a range of malignant and autoimmune diseases.”
Currently, CN201 is in the process of being evaluated in Phase I and Phase Ib/II clinical trials for the treatment of patients with relapsed or refractory non-Hodgkin lymphoma and relapsed or refractory B-cell acute lymphocytic leukemia, respectively. According to the company, preliminary data suggest that CN201 is well tolerated in patients with relapsed or refractory B-cell hematologic malignancies, showing promise in producing sustained reductions in B-cell populations.
At this time, closing of the agreement is pending under the Hart-Scott-Rodino Antitrust Improvements Act and other customary conditions, but is expected to close in the third quarter of this year. Merck is anticipating a pre-tax charge of approximately $750 million to be included in non-GAAP results in the quarter that the transaction closes.1
“This agreement reflects the drive and dedication of the Curon team,” said Zhihong Chen, president, CEO, Curon, in the press release. “As a pioneer in immuno-oncology, Merck is well positioned to build upon the work done to-date and investigate the wide-ranging, first-in-class potential of CN201.”
Reference
1. Merck to Acquire Investigational B-Cell Depletion Therapy, CN201, from Curon Biopharmaceutical. Merck. August 9, 2024. Accessed August 9, 2024. https://www.merck.com/news/merck-to-acquire-investigational-b-cell-depletion-therapy-cn201-from-curon-biopharmaceutical/
