OncoImmune's choice to repurpose GvHD program for COVID pays off via $425M takeout by Merck

OncoImmune’s move to repurpose its GvHD program for COVID-19 has paid off via a takeout by Merck for $425 million up front.

Under the deal, which includes undisclosed milestones and royalties, Merck & Co. Inc. (NYSE:MRK) will gain lead candidate CD24Fc. ...