Merck common as MSD outside the United States and Canada has announced that Merck will acquire Rignotec. RIG-I (retinoic acid-inducible gene-I ) pathway is accessed by Rignotec. RIG-I is a part of the innate immune system and acts as a novel and distinct approach in cancer immunotherapy to induce both immediate and long-term anti-tumor immunity.
The leading candidate RGT 100 of Rignotec is currently in Phase I development in evaluating treatment in patients with various tumors. According to this agreement, Merck through a subsidiary will make an upfront cash payment of 115 million Euro Dollars to Rignotch shareholders. Merck may also make and additional contingent payments of 348 million Euro Dollars based on the attainment of certain clinical, development, regulatory and commercial milestones. All these transactions are subjected to certain closing conditions.
Dr. Eric Rubin, vice president of early-stage development, clinical oncology, Merck Research Laboratories said, “Rigontec’s immuno-oncology approach of engaging the innate immune system to safely eliminate cancer cells complements our strategy and our current pipeline. We are eager to build upon Rigontec’s science as we continue our efforts in bringing forward meaningful advances for patients with cancer.”
Christian Schetter, CEO of Rignotec said, “Merck is a true pioneer in the immuno-oncology space and we are thrilled that our technology will benefit from their experience and leadership position. We are confident that our programs will be in the best hands and that the team at Merck will continue the work we established with our scientific founders and brought into the clinic within three years since our foundation as a company.”