Merck, Sharp & Dohme (MSD; NYSE: MRK), a leading U.S. pharmaceutical company, has announced its intention to acquire Harpoon Therapeutics (NASDAQ: HARP) for approximately USD 680 million. The acquisition is expected to be completed in the first half of 2024, subject to approval by Harpoon’s stockholders and the fulfillment of other customary conditions.
Harpoon Therapeutics is known for its innovative approach to designing tri-specific T-cell engagers, a type of biologic drug that activates only after reaching the tumor, functioning similarly to a prodrug. Their lead candidate, HPN328, targets the DLL3 ligand, which is overexpressed in small cell lung cancer (SCLC) and neuroendocrine tumors. HPN328 is currently in a Phase I/II trial, being studied as a monotherapy for DLL3-positive advanced cancers and in combination with atezolizumab for SCLC. Positive tolerability and response data were observed in a subset of patients during an interim analysis last year.
In addition to HPN328, Harpoon’s portfolio includes a second clinical-stage candidate, HPN217, which is directed towards BCMA and is currently in a Phase I study for the treatment of relapsed/refractory multiple myeloma (r/rMM). The company also has pre-clinical programs, such as anti-EpCAM HPN601, targeting EpCAM-positive tumors.
