Merck Acquires OncoEthix, a Privately Held Oncology Company Developing Novel BET Inhibitors for Hematological and Solid Cancers
December 18 2014 - 7:30AM
Business Wire
Acquisition Expands Merck’s Oncology
Portfolio with Novel Oral BET Inhibitor, OTX015
Merck (NYSE:MRK), known as MSD outside the United States and
Canada, announced today that it has acquired, through a subsidiary,
OncoEthix, a Swiss-based privately held biotechnology company
specializing in oncology drug development. Through the acquisition,
Merck has gained an investigational, novel oral BET (bromodomain)
inhibitor, OTX015, which is currently in Phase 1b studies for the
treatment of hematological malignancies and advanced solid
tumors.
“Oncology is a priority area of focus for Merck and the
acquisition of OncoEthix supports our strategy to prioritize the
development of innovative molecules with the potential to improve
the treatment of advanced cancers,” said Dr. Roy Baynes, senior
vice president, global clinical development, Merck Research
Laboratories. “The potential first-in-class oral BET inhibitor,
OTX015, has demonstrated early promising activity in hematological
cancers and strategically complements our broad immuno-oncology
development program.”
“We are delighted that OTX015 will now be in the hands of Merck,
a company with a successful track record of developing cutting-edge
therapies,” said Bertrand Damour, chief executive officer,
OncoEthix. “The acquisition underlines the promise that OTX015 has
shown in the treatment of hematological malignancies, and the
potential it has for the treatment of advanced solid tumors. We are
confident that our transaction with Merck best positions OTX015 to
be developed to its full potential in areas of high unmet medical
need.”
BET proteins are considered potential therapeutic targets in
cancer, as they play a pivotal role in regulating the transcription
of key regulators of cancer cell growth and survival, including
c-Myc. Interim data from ongoing Phase I clinical studies of OTX015
have demonstrated meaningful clinical activity in patients with
hematological malignancies. Interim data were recently presented at
the American Association of Cancer Research (AACR) Annual Meeting
in April 2014. An international, open-label Phase 1 study
evaluating OTX015 in five different solid tumors was initiated in
November 2014.
Financial terms of the acquisition include an upfront payment of
up to $110 million to OncoEthix. Additional milestone payments of
up to $265 million are contingent upon certain clinical and
regulatory events being achieved.
About OncoEthix
Founded in 2009, OncoEthix is a Swiss-based privately held
biotechnology company aiming to develop a small portfolio of
oncology drug candidates. The Company’s lead product, OTX015, is an
investigational orally administered synthetic small molecule
targeted to BET bromodomain proteins 2/3/4. OTX015 was in-licensed
from Mitsubishi Tanabe Pharma Corporation in March 2012 following
completion of Phase I clinical studies in healthy volunteers.
OncoEthix has raised a total of US$30 million in venture capital
to date: investors include Index Ventures, SV Life Sciences,
Endeavour Vision and Edmond de Rothschild Investment Partners. For
more information please see: www.oncoethix.com.
Merck’s Focus on Cancer
Our goal is to translate breakthrough science into biomedical
innovations to help people with cancer worldwide. For Merck
Oncology, helping people fight cancer is our passion, supporting
accessibility to our cancer medicines is our commitment, and
pursuing research in immuno-oncology and other areas of
breakthrough science is our focus to potentially bring new hope to
people with cancer. For more information about our oncology
clinical trials, visit www.merck.com/clinicaltrials.
About Merck
Today’s Merck is a global healthcare leader working to help the
world be well. Merck is known as MSD outside the United States and
Canada. Through our prescription medicines, vaccines, biologic
therapies and animal health products, we work with customers and
operate in more than 140 countries to deliver innovative health
solutions. We also demonstrate our commitment to increasing access
to healthcare through far-reaching policies, programs and
partnerships. For more information, visit www.merck.com and connect
with us on Twitter, Facebook and YouTube.
Forward-Looking Statement
This news release includes “forward-looking statements” within
the meaning of the safe harbor provisions of the United States
Private Securities Litigation Reform Act of 1995. These statements
are based upon the current beliefs and expectations of Merck’s
management and are subject to significant risks and uncertainties.
There can be no guarantees with respect to pipeline products that
the products 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 healthcare
legislation in the United States and internationally; global trends
toward healthcare cost containment; technological advances, new
products and patents attained by competitors; challenges inherent
in new product development, including obtaining regulatory
approval; Merck’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 Merck’s patents and other
protections for innovative products; and the exposure to
litigation, including patent litigation, and/or regulatory
actions.
Merck 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 Merck’s 2013 Annual
Report on Form 10-K and the company’s other filings with the
Securities and Exchange Commission (SEC) available at the SEC’s
Internet site (www.sec.gov).
MerckMedia:Pamela Eisele, 267-305-3558Claire Mulhearn,
908-236-1118orInvestors:Joseph Romanelli, 908-740-1986Justin Holko,
908-740-1879
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