Merck & Co. Completes $10.8-Bn Acquisition of Prometheus Bio
Merck & Co. has completed its $10.8-billion acquisition of Prometheus Biosciences, a San Diego, California-based bio/pharmaceutical company. The acquisition was announced in April 2023.
Prometheus is focused on the development of precision medicines for treating immune-mediated diseases and companion diagnostics. Its lead drug candidate is PRA023 (now known as MK-7240), which is being evaluated for various autoimmune conditions that include ulcerative colitis (UC), Crohn’s disease (CD), and systemic sclerosis-associated interstitial lung disease. In December 2022, Prometheus reported results for MK-7240 from a Phase II study for moderate-to-severely active UC and a Phase IIa study for moderate-to-severe CD. The drug is a humanized monoclonal antibody directed to tumor necrosis factor (TNF)-like ligand 1A (TL1A), a target associated with both intestinal inflammation and fibrosis.
Prometheus also has a precision medicine platform, Prometheus360, which combines machine learning-based analytical approaches with a gastrointestinal bioinformatics database to identify therapeutic targets and develop therapeutic candidates to engage those targets.
Source: Merck & Co.