MSD has acquired US cancer therapeutics developer Modifi Biosciences, a Yale University spinout, enhancing its portfolio with preclinical compounds designed to target DNA repair defects in hard-to-treat cancers.
MSD has acquired all outstanding shares of Modifi Biosciences through a subsidiary for an upfront payment of $30m. The deal also includes potential milestone payments of?up to $1.3bn for Modifi’s shareholders.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Modifi Biosciences co-founder Ranjit Bindra stated: ¡°In founding Modifi Biosciences, we sought to radically change the oncology treatment paradigm for cancer patients with glioblastoma and other tumours.
¡°We are honoured to have Merck recognise the potential of our science, and as an oncology company, they are perfectly positioned to advance our innovations through clinical trials and commercialisation.¡±
The company¡¯s research, initially published in Science [the peer-reviewed academic journal of the American Association for the Advancement of Science] in 2022, has shown preclinical data across various tumour models, including patient-derived xenograft glioma models.
MSD research laboratories discovery oncology vice-president Dr David Weinstock stated: ¡°DNA repair defects are a frequent hallmark of tumour cells and a major cause of resistance to cancer therapy.
US Tariffs are shifting - will you react or anticipate?
Don¡¯t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData¡°The talented Modifi Biosciences team has developed an innovative approach that we believe has potential for treating some of the most refractory cancer types”.
Modifi Biosciences co-founder Seth Herzon stated: ¡°We designed our small molecules to have the ability to uniquely overcome clinical resistance mechanisms that have been known for decades but until now have been non-actionable. Additionally, we created the molecules in a manner which allows them to be rapidly progressed from bench to bedside.¡±
The technology developed by Modifi Biosciences avoids traditional methods that indirectly target proteins in cancer cells. It demonstrated anti-tumour activity in laboratory research, inducing irreparable DNA modifications in cancer cells while sparing healthy tissue.
