Merck has completed its $1.35 cardinal acquisition of Imago BioSciences Inc., which is processing medicines to dainty bone-marrow diseases.
Rahway, New Jersey-based Merck announced the deal Nov. 21. It paid $36 per stock successful cash.
Imago's apical cause campaigner is called bomedemstat. It is successful objective trials for the attraction of myelofibrosis (a uncommon signifier of bone-marrow humor cancer) and different diseases. Imago is based successful Redwood City, California.
"The acquisition of Imago augments our pipeline and strengthens our beingness successful the increasing tract of hematology (study of blood-related diseases)," Robert M. Davis, president and main enforcement serviceman of Merck, said successful a connection erstwhile the transaction was announced.
Merck's acquisition successful getting drugs to the marketplace volition boost the interests of patients and investors, Dr. Hugh Y. Rienhoff Jr., laminitis and CEO of Imago, said.
"This statement leverages Merck's industry-leading objective improvement expertise to maximize the therapeutic imaginable of bomedemstat portion providing important worth for shareholders," Rienhoff said.
Merck is traded connected the New York Stock Exchange nether the ticker awesome MRK. It closed Wednesday astatine $111.07, up 26 cents. The institution has a marketplace worth of $281.6 billion. Shares of Imago (ticker awesome IMGO) volition nary longer commercialized connected the NASDAQ.
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