Merck (NYSE:MRK), known as MSD outside the United States and
Canada, and cCAM Biotherapeutics announced today that the companies
have signed a definitive agreement under which Merck will acquire
cCAM Biotherapeutics, a privately held biopharmaceutical company
focused on the discovery and development of novel cancer
immunotherapies.
Under terms of the agreement, Merck, through a subsidiary, will
acquire all outstanding stock of cCAM in exchange for an upfront
payment of $95 million in cash. In addition, cCAM shareholders of
record are eligible to receive a total of up to $510 million
associated with the attainment of certain clinical development,
regulatory and commercial milestones. The transaction is subject to
certain closing conditions.
“We continue to strengthen our portfolio of immunotherapeutic
candidates through strategic collaborations and acquisitions,” said
Dr. Roger M. Perlmutter, president, Merck Research Laboratories.
“The acquisition of cCAM supports our objective to advance the care
of patients with cancer by stimulating tumor-directed immune
responses.”
The acquisition provides Merck with several early immunotherapy
candidates including cCAM Biotherapeutics’ lead pipeline candidate,
CM-24 – a novel monoclonal antibody (mAb) targeting the immune
checkpoint protein CEACAM1 that is currently being evaluated in a
Phase 1 study for the treatment of advanced or recurrent
malignancies, including melanoma, non-small-cell lung, bladder,
gastric, colorectal, and ovarian cancers. Based on the transaction,
cCAM Biotherapeutics, domiciled in Israel, will become a wholly
owned subsidiary of Merck and continue to advance the development
of CM-24 in its ongoing Phase 1 clinical trial. cCam was originally
established under the Israeli Office of Chief Scientist’s
incubators program.
“Merck’s excellence and leadership in immuno-oncology provides a
strong foundation for advancing CM-24, for the treatment of people
with cancer,” said Pini Orbach, Ph.D., Chairman of the Board, cCAM
Biotherapeutics and Head of Pharma at Arkin Holdings. “This is
a significant achievement for cCAM Biotherapeutics, as well as a
vote of confidence in the Israeli innovative biotech industry as a
whole.”
About CEACAM1 and CM-24
CM-24 is a humanized monoclonal antibody directed against
CEACAM1, an immune checkpoint protein belonging to the Human CEA
(Carcino-Embryonic Antigen) protein family. Evidence has shown that
CEACAM1 is expressed on tumor lymphocytes, and is up-regulated in
several cancer types. Preclinical studies have shown evidence that
CM-24 enhances the cytotoxic activity of tumor-infiltrating
lymphocytes (TILs) against various CEACAM1-positive tumor cell
lines. CM-24 is being developed for multiple oncological
indications according to the expression pattern of its target
protein.
About cCAM Biotherapeutics
Founded in 2010 and led by Tehila Ben-Moshe, Ph.D., cCAM is a
biopharmaceutical company focused on the discovery and development
of novel immunotherapies to treat cancer. Its lead product, CM-24,
is a first-in-class humanized anti-CEACAM1 monoclonal antibody
undergoing Phase 1 clinical trials. CM-24 is based on the research
of Professor Gal Markel, Head of Research, Ella Institute of
Melanoma, at Sheba Academic Medical Center Hospital, Israel. Main
and equal Investors in the Company include: Arkin Holdings, OrbiMed
and Pontifax. For more information, please visit
http://ccam-bio.com/.
Merck’s Focus on Cancer
Our goal is to translate breakthrough science into innovative
oncology medicines to help people with cancer worldwide. At Merck
Oncology, helping people fight cancer is our passion and supporting
accessibility to our cancer medicines is our commitment. Our
focus is on pursuing research in immuno-oncology and we are
accelerating every step in the journey – from lab to clinic – to
potentially bring new hope to people with cancer. For more
information about our oncology clinical trials, visit
www.merck.com/clinicaltrials.
About Merck & Co., Inc., Kenilworth, N.J., USA
Today's Merck is a global healthcare leader working to help the
world be well. Merck is known as MSD outside of 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 of Merck & Co., Inc.,
Kenilworth, N.J., USA
This news release of Merck & Co., Inc., Kenilworth, N.J.,
USA (the “company”) includes “forward-looking statements” within
the meaning of the safe harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995. These statements are
based upon the current beliefs and expectations of the company’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 health care
legislation in the United States and internationally; global trends
toward health care cost containment; technological advances, new
products and patents attained by competitors; challenges inherent
in new product development, including obtaining regulatory
approval; the company’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 the company’s patents and other
protections for innovative products; and the exposure to
litigation, including patent litigation, and/or regulatory
actions.
The company 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 the company’s 2014
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).
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version on businesswire.com: http://www.businesswire.com/news/home/20150728005731/en/
Merck Media Relations:Pamela Eisele, 267-305-3558orAn Phan,
908-255-6325orMerck Investor Relations:Justin Holko,
908-740-1879orcCAM Investor/Media Relations:Tsipi Haitovsky,
+972-525-989892
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