Increases pre-clinical pipeline for cancer treatments with novel IDO1 and TDO Inhibitors
Merck, known as MSD outside the US and Canada, has bought IOmet, a privately-held UK-based drug discovery company for an undisclosed sum.
The Edinburgh, Scotland-based company develops cancer treatments, with a particular emphasis on the fields of cancer immunotherapy and cancer metabolism.
Under terms of the agreement, Merck, through a subsidiary, will acquire IOmet, including its pre-clinical pipeline of IDO (indoleamine-2,3-dioxygenase 1), TDO (tryptophan-2,3-dioxygenase), and dual-acting IDO/TDO inhibitors.
The firm will become a wholly owned subsidiary of Merck.
'Merck’s leadership in immuno-oncology and expertise in development combined with the potential of our IDO1 and TDO programmes creates significant opportunity for us to advance the treatment of cancer,' said Alan Wise, CEO, IOmet. 'As a company we have benefited from proximity to world class life sciences research including the University of Dundee, an early stage collaborator with us on the IDO1 and TDO programmes and from supportive shareholders including the Scottish Investment Bank. We now look forward to joining Merck and feel that this acquisition underscores the shared commitment we have to accelerating our programmes to bring solutions to people who need them most.'