Merck & Co. announced it is buying privately held biopharmaceutical company, Tilos Therapeutics, in a deal that could be valued at up to $773 million.
Tilos targets therapeutics for the treatment of cancer, fibrosis and autoimmune diseases. The biotech is developing a portfolio of anti-LAP antibodies designed to realize the full potential of TGFβ-modulating therapeutics.
“Tilos has developed a compelling portfolio of candidates that employ a novel approach to modulating the potent signaling molecule TGFβ by binding to latency-associated peptide, with potential applications across a range of disease indications,” said Dr. Dean Li, senior vice president, discovery and translational medicine, Merck Research Laboratories.
Tilos was founded in 2016 with funding from Boehringer Ingelheim Venture Fund, Partners Innovation Fund and ShangPharma Innovation Fund.
Read the press release.