Atlas' Quartet, Rodin enter build-to-buy deals

Merck & Co. Inc. (NYSE:MRK) received an option to acquire Quartet Medicine Inc. (Cambridge, Mass.), while Biogen Inc. (NASDAQ:BIIB) received an option to buy Rodin Therapeutics Inc. (Cambridge, Mass.). Both private companies were co-founded by Atlas Venture.

Quartet and Merck partnered to develop the biotech's tetrahydrobiopterin ( BH4) modulators for pain and inflammation. Quartet will receive up to $20 million in an upfront payment and a milestone. Merck has the exclusive option to buy Quartet for up to $575 million, which includes an option exercise payment and development, regulatory and sales milestones. ...