Merck to Acquire Caraway Therapeutics for ~$610M
Shots:
- Merck has signed a definitive agreement to acquire Caraway Therapeutics, through subsidiary, for ~$610M, which includes an undisclosed upfront payment & contingent milestone payments. Merck will expense upfront payment in Q4’23 included in non-GAAP results
- As per the deal, Merck will purchase all of Caraway's outstanding shares with earnout milestones linked to the progress of some pipeline candidates
- This acquisition utilizes Merck’s research & development capabilities to accelerate discovery & preclinical programs
Ref: Merck | Image: Merck
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Kritika is a content writer at PharmaShots. She is interested in covering recent innovations from the pharma & MedTech industry. She covers news related to Product approvals, clinical trial results, and updates. She can be contacted at connect@pharmashots.com.
