Date: 2015-07-28
Type of information: Company acquisition
Acquired company: cCAM Biotherapeutics (Israel)
Acquiring company: Merck&Co (USA - NJ)
Amount: up to $ 605 million
Terms: * On July 28, 2015, Merck&Co and cCAM Biotherapeutics announced that the companies have signed a definitive agreement under which Merck&Co will acquire cCAM Biotherapeutics, a privately held biopharmaceutical company focused on the discovery and development of novel cancer immunotherapies. Under terms of the agreement, Merck, through a subsidiary, will acquire all outstanding stock of cCAM in exchange for an upfront payment of $95 million in cash. In addition, cCAM shareholders of record are eligible to receive a total of up to $510 million associated with the attainment of certain clinical development, regulatory and commercial milestones. The transaction is subject to certain closing conditions.
Details: Founded in 2010 and led by Tehila Ben-Moshe, Ph.D., cCAM Biotherapeutics is a biopharmaceutical company focused on the discovery and development of novel immunotherapies to treat cancer. Its lead product, CM-24, is a first-in-class humanized anti-CEACAM1 monoclonal antibody directed against CEACAM1, an immune checkpoint protein belonging to the Human CEA (Carcino-Embryonic Antigen) protein family. Evidence has shown that CEACAM1 is expressed on tumor lymphocytes, and is up-regulated in several cancer types. Preclinical studies have shown evidence that CM-24 enhances the cytotoxic activity of tumor-infiltrating lymphocytes (TILs) against various CEACAM1-positive tumor cell lines. CM-24 is being developed for multiple oncological indications according to the expression pattern of its target protein. This antibody is based on the research of Professor Gal Markel, Head of Research, Ella Institute of Melanoma, at Sheba Academic Medical Center Hospital, Israel. Main and equal Investors in cCAM include: Arkin Holdings, OrbiMed and Pontifax.
Related: Cancer - Oncology
