Biotechnology company Modifi Biosciences has been acquired by Merck, known as MSD outside the U.S. and Canada. The agreement involves Merck purchasing all outstanding shares of Modifi Biosciences through a subsidiary for an initial payment of $30 million.
Shareholders of Modifi Biosciences are also eligible to receive up to $1.3 billion in additional milestone payments, depending on the achievement of certain undisclosed targets.
