Merck & Co to buy cCAM Biotherapeutics for up to $605 million

29 July 2015

US pharma giant Merck & Co (NYSE: MRK) on Tuesday said it has agreed to buy Israel-based drugmaker cCAM Biotherapeutics for as much as $605 million in a bid to expand its immuno-oncology portfolio.

President of Merck Research Laboratories, Roger Perlmutter said: "We continue to strengthen our portfolio of immunotherapeutic candidates through strategic collaborations and acquisitions."

Under the agreed terms, Merck will pay an upfront amount of $95 million in cash to cCAM. In addition, cCAM will also receive a total of up to $510 million in various milestones.

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