Merck Acquires Abceutics for Up to $208 Million to Advance Novel Payload-Binding Selectivity Enhancers for Safer ADC Therapies

Apr 08, 2024 21:04 CST Updated 21:04

MSD

Pharmaceutical R&D and Manufacturer

Abceutics

ADC Drug Developer

On April 8, in New York, Abceutics, a preclinical biopharmaceutical startup spun off from the lab of Professor Joseph P. Balthasar, a researcher at the University at Buffalo, New York, was acquired by global biopharmaceutical company Merck & Co., Inc. (MSD) for a potential consideration of up to $208 million, including contingent milestone payments based on the progress of the candidate pipeline as per the agreement.Professor Balthasar was established in 2020Abceutics。

The company's core technology has been licensed by the University at Buffalo. This technology was developed through a grant from the National Institutes of Health and a $110,000 award from the Buffalo Innovation Accelerator Fund, which is managed byUniversity at BuffaloOperated by the Office of Business and Entrepreneurial Partnerships.

Abceutics inUniversity at BuffaloOperates within the incubator space of the New York State Center of Excellence in Bioinformatics and Life Sciences, which also provided the company with a $50,000 grant from Empire State Development's Division of Science, Technology, and Innovation. Additionally, the company has benefited from the National Science Foundation.Buffalo LargeStudyThe innovative team project.

The co-founders include Brandon Bordeau and Toan Duc Nguyen, former students of Balthasar Lab, as well as pharmaceutical consultant Larry Wienkers, who previously served as Vice President of Amgen and Global Head of Pharmacokinetics and Drug Metabolism. Bordeau, now an assistant professor at the University of Michigan, once served as the CEO of this startup.

Abceutics' work is synergistic with an important class of emerging drugs—antibody-drug conjugates (ADCs). ADCs consist of monoclonal antibodies conjugated to cytotoxic payloads via linkers. The antibody component of the ADC specifically targets the drug to particular cancer cells, and the cytotoxic payload utilizes highly potent cell-killing properties to then destroy the targeted cancer cells.

The team designed the "Payload Binding Selective Enhancer" (PBSE) to bind and neutralize stray payload molecules, reducing thesePayload MoleculeImpact on Healthy Cells.

Vice President of Oncology Discovery at Merck Sharp & Dohme AG Research LaboratoriesDavid WeinsDr. Tock said:"The Abceutics team has made significant progress in transforming this novel idea into reality through a series of candidate pipelines and compelling early evidence. We look forward to further evaluating the clinical potential of this innovative approach."

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