Acquisition adds to Merck’s suite of clinical programs in response to SARS-CoV-2/COVID-19
Merck will accelerate development of CD24Fc, a candidate for the treatment of patients with severe and critical COVID-19
CDKENILWORTH, N.J., & ROCKVILLE, Md.--Merck (NYSE: MRK), known as MSD outside the United States and Canada, and OncoImmune, a privately-held, clinical-stage biopharmaceutical company, today announced that the companies have entered into a definitive agreement pursuant to which Merck, through a subsidiary, will acquire all outstanding shares of OncoImmune for an upfront payment of $425 million in cash. In addition, OncoImmune shareholders will be eligible to receive sales-based payments and payments contingent on the successful achievement of certain regulatory milestones. OncoImmune recently announced positive top-line findings from an interim efficacy analysis of a Phase 3 study evaluating its lead therapeutic candidate CD24Fc for the treatment of patients with severe and critical COVID-19.
OncoImmune’s SACCOVID™ (CD24Fc) Exhibits Superb Therapeutic Efficacy—A Potential Breakthrough in Treating Severe and Critical COVID-19
OncoImmune, Inc. today announced that it has closed enrollment of the Phase III SAC-COVID clinical trial (NCT04317040) and releases topline results from the pre-planned interim efficacy analysis. Data from 203 participants (75% of the planned enrollment) show that severe or critical COVID-19 patients treated with SACCOVIDTM exhibited significantly faster recovery and significantly reduced disease progression to death or respiratory failure than those receiving placebo, when used in conjunction with the standard of care (SOC).
OncoImmune Launches First-in-human Clinical Trial for ONC-392 – The anti-CTLA-4 Antibody that Preserves CTLA4 Recycling for Safer and More Effective Immunotherapy
OncoImmune, Inc. announced today that it has dosed the first patient in the first-in-human clinical trial of ONC-392, its novel, next generation anti-CTLA-4 antibody, at the University of California (UC) Davis Comprehensive Cancer Center on September 16, 2020.
OncoImmune, Inc. announced the completion of a $56 million financing in Series B equity co-led by HM Capital and a blue-chip investor. Existing investors, 3E Bioventures Capital and Kaitai Capital, as well as additional new investors, GBA Fund and GF Xinde, also joined the round. Oncoimmune will use the proceeds to support its novel therapeutic programs in late stage clinical trials and to expand its product pipeline.