Merck acquiring Afferent

Merck & Co. Inc. (NYSE:MRK) is acquiring Afferent Pharmaceuticals Inc. (San Mateo, Calif.) for $500 million in cash. The deal gives the pharma Afferent's chronic cough candidate AF-219, a purinergic receptor P2X ligand-gated ion channel 3 ( P2X3) receptor antagonist.

Afferent shareholders also are eligible for $750 million in clinical and commercialization milestones for multiple candidates in Afferent's pipeline, including AF-219. AF-219 is in a Phase IIb trial to treat refractory chronic cough, and a Phase II trial to treat idiopathic pulmonary fibrosis (IPF) with cough. ...