Merck to pick up cancer therapy startup for $2.7B+
November 6, 2020
Merck has agreed to acquire San Diego-based VelosBio for $2.75 billion in cash. The startup, which develops cancer therapies, was valued at $375 million in July after it secured a $137 million Series B led by Matrix Capital Management and Surveyor Capital, according to PitchBook data. The acquisition is expected to close by the end of the year.