The American pharmaceutical company MSD with German headquarters in Haar near Munich takes over RigontecFounded in 2014, IZB-Company is working on a new approach to cancer immunotherapy. Their drug is still in clinical development.
MSD will pay €115 million to Rigontec's shareholders through a subsidiary. If the company achieves specified milestones, further payments of up to €349 million will be due. The total purchase price will therefore be up to €464 million.
Dr. Eric Rubin, Vice President of Early Stage Development, Clinical Oncology, at MSD Research Laboratories says:
“We are very interested in building on Rigontec’s research findings to move closer to our goal of making relevant progress for cancer patients.”
Pioneers in immuno-oncology
Rigontec CEO Christian Schetter says:
“MSD is one of the pioneers in immuno-oncology, and we are delighted that our technology will now benefit from their experience and market-leading position.”
Schetter further explains:
"We are confident that we are putting our program in good hands and that the MSD team will continue the work on our therapeutic solution, which we, with our scientific founders, brought to the clinic within just three years of our founding."
Rigontec had previously raised almost 30 million euros from venture capitalists such as Boehringer Ingelheim Venture Fund, Forbion Capital Partners, High-Tech Gründerfonds, MP Healthcare Venture Management, NRW.BANK, Sunstone Capital and Wellington Partners Life Sciences.
