Merck Sharp and Dohme acquires UK cancer specialist IOmet

Merck Sharp and Dohme has announced the acquisition of the UK drug discovery company IOmet, a move that will broaden its cancer research capabilities.

The Scottish firm is focused on the development of innovative medicines for the treatment of cancer, with a particular emphasis on the fields of cancer immunotherapy and metabolism. Financial terms of the acquisition were not disclosed.

Under terms of the deal, Merck will take ownership of IOmet's comprehensive preclinical pipeline of IDO, TDO and dual-acting IDO/TDO inhibitors in addition to the company itself, with IOmet to become a wholly owned subsidiary.

To date, IOmet's growth has been bolstered by its proximity to life science research sites including the University of Dundee, as well as support from shareholders such as the Scottish Investment Bank.

Dr Eric Rubin, vice-president and therapeutic area head for oncology early-stage development at Merck Research Laboratories, said: "The acquisition of IOmet is a further example of Merck's commitment to fully realising the potential of this rapidly evolving field through our existing innovative portfolio, as well as the acquisition of promising immunotherapeutic candidates."