Merck Acquires Clinical-Stage CD3xCD19 Bispecific Antibody for $700M

Acquisition Amount:
Merck has paid $700 million upfront in cash to acquire the CD3xCD19 bispecific antibody from Curon Biopharmaceutical.

Asset Details:
The CD3xCD19 bispecific antibody is a clinical-stage asset, indicating it is in the process of being tested in human clinical trials.

Company Background:
Curon Biopharmaceutical is a Shanghai-based company specializing in cancer drug development.

Strategic Impact:
This acquisition positions Merck as a rival to Amgen in the autoimmune and cancer treatment markets.

Recent Activity:
This is Merck's fourth acquisition of the year, highlighting the company's active strategy in expanding its portfolio.