Drugs Pharma

Merck acquires Imago BioSciences for $1.35 billion

Merck acquisition

HQ Team

November 22, 2022: Merck, a US multinational pharmaceutical company, announced it would acquire Imago BioSciences for $1.35 billion.

Merck, through a subsidiary, will acquire Imago for $36.00 per share in cash, according to a statement on Imago’s website. After the tender offer, Merck’s acquisition subsidiary will merge into Imago. The transaction may close in the first quarter of 2023.

Imago develops medicines to treat bone marrow diseases, such as myeloproliferative neoplasms, where the marrow makes too many red and white cells or platelets. In an average person, the bone marrow produces immature cells that become mature.

“This acquisition of Imago augments our pipeline and strengthens our presence in the growing field of haematology,” said Robert M. Davis, president and chief executive officer of Merck.

Rare disease

Imago, a clinical-stage biopharmaceutical company, is currently conducting phase 2 trials on a drug to combat thrombocythemia, a rare blood disease in which the bone marrow produces too many platelets.

The California-based Imago is also on a second-stage trial with its drug to treat meyfibrosis and polycythemia vera. Meyfibrosis is a bone marrow cancer that disrupts your body’s production of cells. Polycythemia vera is another type of blood cancer.

Early investors in Imago include Blackstone Life Sciences, Frazier Healthcare, Omega Funds, Amgen Ventures, and MRL Ventures Fund.

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