Acquisition between Abceutics and Merck includes novel platform technology set to improve the safety and efficacy of an important emerging class of cancer drugs.
Buffalo, NY, April 5, 2024:
Abceutics, Inc., a preclinical-stage biopharmaceutical company developing innovative cancer treatments, has been acquired by global healthcare giant Merck for a potential consideration of up to $208 million.
Founded in 2020 by Dr. Joseph Balthasar of the University at Buffalo (UB), Abceutics focuses on improving the safety and efficacy of Antibody-Drug Conjugates (ADCs), a promising class of cancer drugs.
The company's core technology, licensed from UB, utilizes "payload-binding selectivity enhancers" (PBSEs) to minimize side effects associated with ADCs. These PBSEs neutralize stray drug molecules, protecting healthy cells while still targeting cancer cells.
"PBSEs have the potential to optimize the therapeutic profile of ADC therapy," said Dr. Balthasar.
Merck, recognizing Abceutics' progress, is eager to advance this novel technology. "We look forward to further evaluating PBSEs' potential in clinical trials," said Dr. David Weinstock of Merck Research Laboratories.
Abceutics' co-founders, including UB alumni and pharmaceutical industry veterans, expressed excitement about the acquisition. "Merck's expertise is well-suited to bring PBSEs to patients," said Brandon Bordeau, former CEO of Abceutics.
This acquisition marks a significant achievement for UB's technology transfer and commercialization efforts. The company's success highlights the collaborative ecosystem fostering innovation in life sciences.