(Boursier.com) — Merck the American pharmaceutical laboratory, has confirmed the acquisition of the ‘biotech’ Harpoon Therapeutics for $23 per share, or nearly $700 million in total. Harpoon is an immuno-oncology group. Merck’s offer represents a 118% premium to Friday’s closing prices, with Harpoon listed on the Nasdaq. The acquisition includes HPN328, an investigational T-cell activator-targeting DLL3 treatment being evaluated in select patients with small cell lung cancer and neuroendocrine tumors. “At Merck, we continue to enhance our oncology product portfolio through strategic acquisitions that complement our current portfolio and advance groundbreaking science to help meet the needs of people with cancer around the world,” said Dr. Dean Y. Li, president of Merck Research Laboratories. “We look forward to continuing the evaluation of HPN328 in innovative combinations with other pipeline candidates.” The title Harpoon soars more than 110% on Wall Street.
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