MSD concludes Terns acquisition to expand CML pipeline
Merck & Co (MSD) has completed its acquisition of Terns Pharmaceuticals, expanding its pipeline of treatments for chronic myeloid leukaemia (CML). The US FDA granted breakthrough therapy designation to TERN-701, a novel oral investigational tyrosine kinase inhibitor.
Merck & Co (MSD) has completed its acquisition of Terns Pharmaceuticals, making Terns a wholly owned subsidiary. The US Food and Drug Administration (FDA) granted breakthrough therapy designation to TERN-701, a novel oral investigational tyrosine kinase inhibitor for adults with Philadelphia chromosome-positive CML. The designation was supported by data from the Phase I/II CARDINAL trial. MSD completed a cash tender offer, buying all outstanding Terns common stock at $53 per share. The transaction will be treated as an asset acquisition, resulting in a $5.8bn charge to research and development. TERN-701 has the potential to improve therapies for CML by binding to the ABL myristoyl pocket.
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