Merck (MRK) to Buy Curon's Bispecific Antibody Drug for $1.3B

Merck (MRK) announced that it has entered into a definitive agreement with Cayman Islands-based privately-held biotech company Curon Biopharmaceutical to acquire the latter’s next-generation CD3xCD19 bispecific antibody candidate, CN201.Per the terms of the agreement, Merck, through a subsidiary, will acquire worldwide rights to CN201. In return, Curon will get an upfront cash payment of $700 million. In addition, Merck will also be entitled to pay up to $600 million in milestone payments to Curon.Currently ...