Merck has signed a definitive agreement to acquire Australian oncolytic immunotherapy treatments provider Viralytics in a deal valued at A$502m ($394m).
Upon completion of the acquisition, Viralytics will become a wholly owned subsidiary of Merck, which in turn will obtain full rights to the former’s investigational oncolytic immunotherapy CAVATAK (CVA21).
Go deeper with GlobalData
CVA21, which is currently being evaluated in multiple Phase I and Phase II clinical trials, is based on Viralytics’s formulation of an oncolytic virus (Coxsackievirus Type A21) that has been shown to preferentially infect and kill cancer cells.
It is being evaluated as both an intratumoral and intravenous agent, including in combination with Merck’s anti-PD-1 therapy KEYTRUDA (pembrolizumab).
As part of an agreement signed between Viralytics and a subsidiary of Merck in November 2015, a study is investigating the use of the CAVATAK and KEYTRUDA combination in melanoma, prostate, lung and bladder cancers.
Merck Research Laboratories global clinical development senior vice-president and head, chief medical officer Dr Roy Baynes said: “Viralytics’s approach of engaging the innate immune system to target and kill cancer cells complements our immuno-oncology strategy, which is focused on the rapid advancement of innovative monotherapy approaches and synergistic combinations to help the broadest range of cancer patients.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData“We are eager to further build on Viralytics’s science as we continue our efforts to harness the immune system to improve long-term disease control and survival outcomes for people with cancer.”
Implementation of the transaction, which is subject to a Viralytics’s shareholder vote along with customary regulatory approvals, is expected by the second quarter of this year.
