6/10/2019, 1:42 PM (Source: TeleTrader)
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Merck to acquire Tilos Therapeutics for up to $773M

Merck and Co Inc. reached an agreement to buy the biopharmaceutical company Tilos Therapeutics for up to $773 million, the pharmaceutical giant said on Monday.

"At Merck we continue to enhance our robust pipeline through active execution of our business development strategy," Senior Vice President of Discovery Sciences and Translational Medicine at Merck Research Laboratories Dr. Dean li said. "Tilos has developed a compelling portfolio of candidates that employ a novel approach to modulating the potent signaling molecule TGFβ by binding to latency-associated peptide, with potential applications across a range of disease indications," he added in the statement.

Shares of Merck were up 0.86% in premarket trading.

Breaking the News / JC