Deals report: Merck buying Buffalo academic spinout to enhance ADCs

Merck is acquiring a University at Buffalo spinout for up to $208 million to improve the performance of antibody-drug conjugates in its pipeline.

An announcement by the State University of New York institution did not include the upfront payment, but said the takeout of Abceutics Inc. by Merck & Co. Inc. (NYSE:MRK) includes milestones tied to “the progress of candidates.”...