(RTTNews) - Merck (MRK) and Imago BioSciences, Inc. (IMGO) have entered into a definitive agreement under which Merck, through a subsidiary, will acquire Imago for $36.00 per share in cash for an approximate total equity value of $1.35 billion. The acquisition is expected to close in the first quarter of 2023.
Imago BioSciences is a clinical-stage biopharmaceutical company discovering and developing small molecule product candidates that target lysine-specific demethylase 1, an enzyme that plays a central role in the production of blood cells in the bone marrow. Bomedemstat, an orally available, small molecule inhibitor of LSD1, is the lead product candidate discovered by Imago for the treatment of certain myeloproliferative neoplasms.
Robert Davis, CEO, Merck, said: "This acquisition of Imago augments our pipeline and strengthens our presence in the growing field of hematology."
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