POST Online Media Lite Edition



 

Merck to acquire Afferent Pharmaceuticals in $1.25 billion deal

Staff writer |
Merck, known as MSD outside the United States and Canada, and Afferent Pharmaceuticals have signed a definitive agreement under which Merck will acquire this privately held pharmaceutical company.

Article continues below






Afferent Pharmaceuticals is a leader in the development of therapeutic candidates targeting the P2X3 receptor for the treatment of common, poorly-managed, neurogenic conditions.

Afferent’s lead investigational candidate, AF-219, is a selective, non-narcotic, orally-administered P2X3 antagonist currently being evaluated in a Phase 2b clinical trial for the treatment of refractory, chronic cough as well as in a Phase 2 clinical trial in idiopathic pulmonary fibrosis (IPF) with cough.

Under terms of the agreement, Merck, through a subsidiary, will acquire all outstanding stock of Afferent in exchange for an upfront payment of $500 million in cash.

Also, Afferent shareholders will be eligible to receive a total of up to an additional $750 million associated with the attainment of certain clinical development and commercial milestones for multiple indications and candidates, including AF-219.

The closing of the transaction will be subject to certain conditions, including the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act and other customary conditions. The companies anticipate the transaction will close in the third quarter of 2016.


What to read next

Merck to buy Cubist Pharmaceuticals for $8.4 billion
ANI Pharmaceuticals to buy two products from Merck for $75+ million
Allergan buys rights to Merck's migraine drugs