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Merck (MSD) has signed a definitive agreement to acquire all outstanding shares of clinical-stage biopharmaceutical firm OncoImmune through a subsidiary, for an upfront payment of $425m in cash.
OncoImmune announced that its investigational immunomodulator SACCOVID (CD24Fc) has demonstrated significant therapeutic efficacy in the phase III SAC-COVID clinical trial.
OncoImmune has received a study-may-proceed letter from the FDA for its Phase III clinical trial testing the safety and efficacy of CD24Fc for the treatment of hospitalized COVID-19 patients (SAC-COVID).
The US Food and Drug Administration (FDA) has approved for OncoImmune to conduct a Phase III clinical trial of CD24Fc to treat patients hospitalised with Covid-19.