Arix Bioscience PLC Portfolio Company Harpoon Therapeutics Acquired by Merck (MSD)

Arix Bioscience PLC's portfolio company, Harpoon Therapeutics, is set to be acquired by Merck (MSD) for an approximate total equity value of $680 million. The acquisition includes Harpoon's lead candidate, HPN328, an investigational delta-like ligand 3 (DLL3) targeting T-cell engager being evaluated in certain patients with small cell lung cancer and neuroendocrine tumors. Merck's President, Dr. Dean Y. Li, expressed the company's commitment to enhancing its oncology pipeline through strategic acquisitions that complement its current portfolio. Harpoon's innovative Tri-specific T cell Activating Construct (TriTAC®) platform and ProTriTAC™ platform have shown promise in directing a patient’s own immune cells to kill tumor cells. Harpoon's president and CEO, Julie Eastland, expressed confidence in the acquisition, citing Merck's leadership in oncology clinical development and global commercial footprint. The acquisition is subject to certain conditions, including approval of the merger by Harpoon’s Board of Directors. Arix Bioscience plc will provide a full financial update for its shareholders in due course.