Merck Buys Peloton On Eve Of IPO, Expands Kidney Cancer Portfolio
Investors in Peloton, which has the only clinical-stage HIF-2α inhibitor, will get back 3.5 times the $304m in venture capital invested in the firm via the $1.1bn that Merck is paying up front. With all $1.15bn in additional milestone fees, the return could grow to 7.2x.
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The drug maker announced Phase III results for the HIF-2α inhibitor in renal cell carcinoma patients with disease progression following PD-1/PD-L1 and anti-VEGF therapy.
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