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Merck to acquire Swiss biotechnology firm OncoEthix

US-based Merck, through its subsidiary, has acquired Swiss biotechnology company OncoEthix that is specialised in oncology drug development.

As part of the deal, OncoEthix will receive an upfront payment of up to $110m from Merck. Upon certain clinical and regulatory events being achieved, OncoEthix will also receive additional milestone payments of up to $265m.

The deal allows Merck to gain an investigational, oral BET (bromodomain) inhibitor, OTX015, which is currently in Phase 1b studies to treat hematological malignancies and advanced solid tumors.

Merck Research Laboratories global clinical development senior vice president Dr Roy Baynes said: "Oncology is a priority area of focus for Merck and the acquisition of OncoEthix supports our strategy to prioritize the development of innovative molecules with the potential to improve the treatment of advanced cancers.

"The potential first-in-class oral BET inhibitor, OTX015, has demonstrated early promising activity in hematological cancers and strategically complements our broad immuno-oncology development program."

Interim data from ongoing Phase I clinical studies of OTX015 have showed significant clinical activity in patients with hematological malignancies.

An international and open-label Phase I trial assessing OTX015 in five different solid tumors has been initiated in November 2014.

According to Merck, BET proteins are considered potential therapeutic targets in cancer, as they play a key role in regulating the transcription of key regulators of cancer cell growth and survival, including c-Myc.