Merck to acquire Afferent Pharmaceuticals

KENILWORTH, N.J. and SAN MATEO, Calif. — Merck announced Thursday that it would be acquiring the privately held Afferent Pharmaceuticals. Afferent is a leader in developing therapeutic candidates to treat common, poorly managed neurogenic conditions by targeting the P2X3 receptor, and its lead candidate, AF-219, is currently being evaluated in clinical trials to treat refractory, chronic cough, as well as idiopathic pulmonary fibrosis with cough. 

 

“Afferent has pioneered the clinical development of novel investigational candidates selectively targeting the P2X3 receptor, an exciting area of research,” Merck Research Laboratories president Dr. Roger M. Perlmutter said. “We look forward to advancing these innovative molecules for patients with conditions like chronic cough, an area of significant unmet medical need.”

 

Merck, through a subsidiary, will pay $500 million in cash to acquire all of Afferent’s outstanding stock and Afferent shareholders will be eligible to receive an additional $750 million as a result of certain clinical development and commercial milestones are attained. 

 

“This achievement is a reflection of the talent and hard work of the experienced Afferent team in advancing the science of P2X3 receptors and the clinical development of our novel therapeutic candidates,” Afferent CEO Kathleen Sereda Glaub said. “We are very pleased to enter into this agreement given Merck’s reputation for maximizing opportunities around novel mechanisms. This agreement with Merck creates significant value for Afferent shareholders while enhancing the potential of our portfolio to provide meaningful benefits to patients globally.”

 

The companies expect the transaction to close in the third quarter of 2016.