Merck to buy Tilos Therapeutics for up to $773M

Merck, the pharmaceutical giant based in Kenilworth, announced Monday it has agreed to buy Tilos Therapeutics, a Lexington, Massachusetts-based biopharmaceutical company, for up to $773 million.

Tilos is a developer of therapies that target the treatment of cancer, fibrosis and autoimmune disease, Merck said.

“At Merck we continue to enhance our robust pipeline through active execution of our business development strategy,” Dr. Dean Li, senior vice president, discovery and translational medicine, Merck Research Laboratories, said. “Tilos has developed a compelling portfolio of candidates that employ a novel approach to modulating the potent signaling molecule TGFβ by binding to latency-associated peptide, with potential applications across a range of disease indications.”

Under terms of the deal, Merck, through a subsidiary, will buy all the outstanding shares of Tilos, including an upfront payment and contingent milestone payments.