Merck announced that it has acquired IOmet, a privately held UK-based drug discovery company focused on the development of medicines for cancer, with an emphasis on cancer immunotherapy and cancer metabolism. The acquisition includes IOmet's comprehensive pre-clinical pipeline of IDO (indoleamine-2,3-dioxygenase 1), TDO (tryptophan-2,3-dioxygenase), and dual-acting IDO/TDO inhibitors. Based on the transaction, IOmet will become a wholly owned subsidiary of Merck.
“The acquisition of IOmet is a further example of Merck’s commitment to fully realizing the potential of this rapidly evolving field through our existing innovative portfolio as well as the acquisition of promising immunotherapeutic candidates,” said Eric Rubin, M.D., vice president and therapeutic area head, oncology early-stage development, Merck Research Laboratories.
“Merck’s leadership in immuno-oncology and expertise in development combined with the potential of our IDO1 and TDO programs creates significant opportunity for us to advance the treatment of cancer,” said Alan Wise, Ph.D., CEO, IOmet. “As a company we have benefited from proximity to world class life sciences research including the University of Dundee, an early stage collaborator with us on the IDO1 and TDO programs and from supportive shareholders including the Scottish Investment Bank.”
Financial terms of the acquisition were not disclosed.