Merck Acquires Modifi for $30M with Potential $1.3B in Payments (NYSE:MRK)
Merck Acquires Modifi Biosciences
In a significant move, Merck (NYSE:MRK) has acquired Modifi Biosciences for an upfront payment of $30M. This strategic acquisition could lead to up to $1.3B in potential milestone payments based on the success of Modifi's pipeline of DNA modification-enabled cancer drugs.
Strategic Expansion in Biotech
The acquisition of Modifi signals Merck's commitment to expanding its presence in the rapidly growing oncology market. Modifi's innovative approach to DNA modification positions it as a valuable asset in developing next-generation therapies.
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