Dive Brief:
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Merck has acquired Afferent Pharmaceuticals for $500 million cash plus milestone payments that could be worth another $750 million.
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Afferent, headquartered in San Francisco, is developing two theraputic candidates to treat chronic cough.
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The deal is the largest for Merck in over a year, BioSpace reports.
Dive Insight:
Afferent's clinical candidates are the only orally available ones that selectively block P2X3 receptors, Merck said in a news release announcing the sale. Those receptors are believed to help sensitize some sensor nerves that can, in turn, trigger chronic cough. There currently is no approved therapy for chronic cough, defined as a cough lasting more than eight weeks.
"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,” Kathleen Sereda Galub, CEO for Affluent, said in a statement released by Merck.
Merck's move came only days after a federal judge tossed a $200 million award it had won in a jury trial involving a patent dispute with Gilead over competing hepatitis C drugs.