Merck has finalized its acquisition of Prometheus Biosciences for $10.8 billion, gaining five candidates for inflammatory bowel and immune-mediated diseases, including the leading candidate MK-7240 for ulcerative colitis and Crohn's disease. The purchase marks Merck's further expansion into the immunology space. The all-cash agreement includes buying all outstanding shares of Prometheus at a 75% premium to Friday's closing price. The deal is expected to close in Q3 of 2023.
Prometheus' monoclonal antibody PRA023, which targets tumor necrosis factor-like ligand 1A (TL1A), has demonstrated promising efficacy and safety in Phase II studies for ulcerative colitis and Crohn's disease. The drug is also being evaluated in systemic sclerosis-associated interstitial lung disease in Phase II assessments.
Merck previously acquired Pandion Therapeutics for its lead asset PT101, now dubbed MK-6194, which selectively targets regulatory T cells to treat autoimmune diseases.
Keywords: Merck, Prometheus Biosciences, acquisition, inflammatory bowel, immunology Merck has completed