Merck KGaA Acquires Survac ApS, Danish Biotech Company
Merck KGaA announced that it has acquired the Danish biotechnology company Survac ApS for EUR 11 million to gain access to novel technologies for the treatment of cancer. The acquisition is expected to be completed this year.
The founders of Survac have developed a technology to identify and modify peptides that are useful for therapeutic cancer vaccines. The acquisition includes all intellectual property owned by Survac, including a broad patent portfolio in the area of proteins that are essential for the survival of cancer cells and, thus, are ideal targets for cancer treatments.
In exploratory clinical trials, the lead candidate was able to generate strong immune response to cancer cells in patients without the need for elaborated delivery technologies or specialized adjuvants.
Merck KGaA will integrate Survac?s activities into its research and development organization and intends to initiate pre-clinical development of the first product in 2006. Survac ApS was founded in 2003 in Copenhagen with financial support from a consortium of Danish venture capital firms. The company?s business is run on a virtual basis in collaboration with leading European academic institutes and clinics.
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