Merck Sharp and Dohme acquires cCAM Biotherapeutics

Merck Sharp and Dohme has announced the acquisition of cCAM Biotherapeutics, a move that will strengthen its position in the field of immuno-oncology.

The privately-held biopharmaceutical company is focused on the discovery and development of novel cancer immunotherapies and has a number of promising early-stage candidates in its pipeline.

Merck will acquire all outstanding stock of cCAM in exchange for an upfront payment of $95 million (60.84 million pounds), with all cCAM shareholders eligible to receive a total of up to $510 million in clinical development, regulatory and commercial milestone-based payments. 

The deal will allow the company to take control of all of cCAM's promising projects, including its lead candidate CM-24, a novel monoclonal antibody that is currently being evaluated in a phase I study for the treatment of advanced or recurrent malignancies.

Dr Roger Perlmutter, president of Merck Research Laboratories, said: "The acquisition of cCAM supports our objective to advance the care of patients with cancer by stimulating tumor-directed immune responses."

Immuno-oncology is a key strategic field for Merck Sharp and Dohme, which has formed new alliances with Dynavax and Plexxikon in this area during the last few months.