11:33 AM
 | 
Sep 08, 2017
 |  BioCentury  |  Finance

Rig-ging an exit

Rigontec takeout gives Wellington quick exit, momentum into new fund

Wellington Partners’ quick exit from Rigontec GmbH will not only be one of the firm’s best returns from its current fund, but could bolster its fund-raising efforts for a third life sciences fund.

On Sept. 6, Merck & Co. Inc. (NYSE:MRK) announced it will acquire Rigontec for €115 million ($136.8 million) up front and up to €349 million ($415.2 million) in milestones.

The immuno-oncology company is developing agonists targeting DEAD box polypeptide 58 (RIG-I; DDX58), an immune-stimulating...

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