Merck (MRK) announced Monday that it would acquire Tilos Therapeutics for up to $770 million, a potentially massive windfall for a 3-year-old company and a sign of the industry’s hopes for a class of drugs that could be a boon for immunotherapies.
The acquisition is Merck’s third cancer-related purchase in 2019; it also spent more than $1 billion to acquire Peloton Therapeutics in May and $300 million to acquire Immune Design, a publicly traded California immunotherapy company, in February.
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