Merck to Acquire Biotech Company Afferent
June 09 2016 - 6:29PM
Dow Jones News
By Josh Beckerman
Merck & Co. has agreed to purchase biotechnology company
Afferent Pharmaceuticals, whose lead drug candidate is being
evaluated as a treatment for refractory, chronic cough and
idiopathic pulmonary fibrosis with cough.
The deal will include an upfront payment of $500 million and
milestones of up to $750 million.
San Mateo, Calif.-based Afferent focuses on targeting the P2X3
receptor for neurogenic conditions.
Last month, Afferent reported that its lead candidate, AF-219,
significantly reduced cough frequency in the first cohort of a two
cohort-Phase 2b study of chronic cough patients.
In July, Afferent said it completed a $55 million Series C
financing led by Fidelity Management & Research Co.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
June 09, 2016 18:14 ET (22:14 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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