Merck is acquiring Imago BioSciences, a clinical-stage biotech whose lead drug is in development for myelofibrosis and other blood cancers. The deal gives the pharmaceutical giant a small molecule that could provide an alternative to a class of drugs that introduce dangerous side effects.
Cancer drug developer Erasca, whose mission is to "erase cancer," has raised $300 million from its IPO. The clinical-stage biotech addresses a single elusive cancer target; it has multiple programs taking multiple approaches, two of them in human testing and the rest on track to join them. Cancer biotechs Imago BioSciences and TScan Therapeutics also priced IPOs.
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The San Francisco-based company aims to complete at least one Phase III study by 2025, and it is weighing an IPO next year to fund more.