Merck KGaA acquires Danish biotech company Survac

(2005.11.22)

Merck KGaA, a global pharmaceutical and chemical company headquartered in Darmstadt, Germany, has acquired Danish biotech company Survac for DKK 82 m

Merck KGaA, a global pharmaceutical and chemical company headquartered in Darmstadt, Germany, has acquired Danish biotech company Survac for DKK 82 m (USD 12.9 m). Survac has developed a technology to identify and modify peptides which are useful for therapeutic cancer vaccines. In exploratory clinical trials, Survac's lead candidate was able to generate a strong immune response to cancer cells in patients without the need for elaborated delivery technologies or specialised adjuvants.

Dr. Wolfgang Wein, senior vice president for Merck's commercial unit oncology says: "A key element of Merck's strategy in oncology is to expand our clinical pipeline of innovative, targeted cancer treatments and Survac's lead candidate already shows highly encouraging results in exploratory clinical trials". Merck plans to initiate preclinical development of the first Survac product in 2006.

Steen Verland at Biolink Capital, a shareholder of Survac prior to the sale, says that major pharmaceutical companies are showing great interest in small biotech firms, and also an increasing interest in buying early-stage projects.

Survac was founded in Copenhagen in 2003 with financial support from DTU Innovation and a consortium of Danish venture capital firms. The company's business is run on a virtual basis in collaboration with leading European academic institutes and clinics. The news was reported by Jyllands-Posten and on Merck KGaA's website.

Link > Merck KGaA 

More news 2005.11.22
Tip a friend

last updated: 2005.11.21