Merck and Blackstone enter research agreement to develop cancer therapy for $700 million

Core Viewpoint - Merck has entered into an agreement to receive $700 million from Blackstone Life Sciences to develop an experimental cancer therapy [1] Company Summary - Merck is collaborating with Blackstone Life Sciences, indicating a strategic partnership aimed at advancing cancer treatment [1] - The funding of $700 million will support the development of an experimental therapy, highlighting Merck's commitment to innovation in oncology [1] Industry Summary - The agreement reflects ongoing investment trends in the biotechnology and pharmaceutical sectors, particularly in cancer research and development [1] - The partnership with a major investment firm like Blackstone underscores the increasing financial backing for experimental therapies in the healthcare industry [1]