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2024-10-23 23:43
Merck (NYSE:MRK) has acquired Modifi Biosciences, a developer of DNA modification-enabled cancer drugs, for $30M upfront and up to $1.3B in potential milestone payments.
Modifi, a spinout of Yale University, has developed a class of small molecules that target cancer cells lacking expression of key DNA repair proteins known as O6-methylguanine methyl transferase, or MGMT.
Modifi’s research has produced "compelling preclinical data across a number of tumor models, including patient-derived xenograft models of gliomas and other cancers with intrinsic DNA repair defects,” according to a statement from the companies.
Merck said it believes Modifi’s scientific approach has the potential for treating some of the most refractory types of cancer.