Merck boosts late-phase cancer pipeline with $1.1B Peloton buy

Merck boosts late-phase cancer pipeline with $1.1B Peloton buy

Source: 
Fierce Biotech
snippet: 

Merck has struck a deal to buy Peloton Therapeutics for $1.1 billion upfront days before the biotech was due to list on Nasdaq. The deal will give Merck control of an experimental oral HIF-2α inhibitor that could challenge Keytruda for the metastatic renal cell carcinoma (mRCC) market.