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Merck will purchase Imago BioSciences, a biotechnology company focused on bone marrow disorders, for approximately $1.35 billion.
Merck, known as MSD outside of the United States and Canada, announced its intention to acquire Imago BioSciences, a clinical-stage biopharmaceutical company focused on bone marrow disorders, on Nov. 21, 2022. Per the terms of the definitive merger agreement, Merck will acquire Imago for approximately $1.35 billion in total equity. The transaction is expected to close in the first quarter of 2023.
According to a company press release, Imago specializes in developing new medicines for the treatment of myeloproliferative neoplasms and other bone marrow diseases. Imago’s lead candidate is bomedemstat, an investigational, orally available lysine-specific demethylase 1 (LSD1) inhibitor. Due to the role that LSD1 plays in the function of malignant blood cells, targeting it is intended to provide a new mechanism of treatment for various blood cancers. It is currently being evaluated in multiple Phase II clinical trials for the treatment of essential thrombocythemia, myelofibrosis, and polycythemia vera, among other indications.
“We continue to invest in our pipeline with a focus on applying our unique capabilities to unlock the value of breakthrough science for the patients we serve,” said Robert M. Davis, president and CEO, Merck, in the release. “This acquisition of Imago augments our pipeline and strengthens our presence in the growing field of hematology.”
“This milestone is a testament to more than a decade of pioneering research by Imago scientists and the entire Imago team’s unwavering dedication to improving the lives of patients,” said Hugh Y. Rienhoff Jr., founder and CEO, Imago BioSciences, in the release. “This agreement leverages Merck’s industry-leading clinical development expertise to maximize the therapeutic potential of bomedemstat while providing important value for shareholders.”