Merck acquires Imago for $1.35 billion to expand its blood disease pipeline

Merck announced on November 21 that it will acquire Imago through its subsidiary for $36 per share in cash BioSciences, with a total transaction value of approximately $1.
35 billion, is expected to close
in the first quarter of 2023.

After the news, Imago BioSciences rose 105% premarket to $35.
67 and ended at $35.
59
.

Imago is an innovative drug company focused on blood and bone marrow tumor research, headquartered in the San Francisco Bay Area, California, USA, and listed
on the NASDAQ in July 2021.

The company's core product, bomedemstat (IMG-7289), is an investigational oral lysine-specific demethylase 1 (LSD1) inhibitor that is currently undergoing multiple Phase II clinical trials with potential indications for the treatment of essential thrombocytosis (ET), myelofibrosis (MF) and polycythemia vera (PV).

Lysine-specific demethylase 1 (LSD1) plays a central role in the production process of bone marrow cells and is essential
for regulating the proliferation of hematopoietic stem cells, differentiation of megakaryocytes and granulocytes, etc.
When a patient develops a myeloproliferative tumor, the bone marrow produces too many red blood cells, platelets, or white blood cells
.
The buildup of extra cells can lead to bleeding problems, anemia, infections, clotting, and other symptoms
.

Merck President and CEO Robert Dai M.
Davis) said: "We will continue to leverage our unique platform advantages and continue to invest in our R&D pipeline to find valuable breakthrough therapies
for patients.
The acquisition will significantly expand the company's product pipeline and will strengthen the company's presence
in the field of hematology.
”

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