USA – Merck, a leading U.S. pharmaceutical company, has acquired Modifi Biosciences, a biotech firm specializing in innovative oncology drug molecules.
The deal, valued at US $30 million upfront, includes potential milestone payments that could total up to US $1.3 billion as Modifi progresses in the development of its therapies.
Founded in 2021, Modifi Biosciences is dedicated to addressing DNA repair defects in cancer cells, particularly targeting a repair protein known as O6-methylguanine methyltransferase (MGMT).
This protein is crucial for the repair of damaged DNA, and its deficiency is common in certain types of tumors, including glioblastoma.
Merck’s acquisition aims to leverage Modifi’s unique approach to create a new class of orally delivered molecules capable of selectively eliminating cancer cells by exploiting these deficiencies.
Dr. Ranjit S. Bindra, co-founder of Modifi and a prominent researcher at Yale School of Medicine, stated, “In founding Modifi Biosciences, we sought to radically change the oncology treatment paradigm for cancer patients with glioblastoma and other tumors.”
Combatting resistance mechanisms in cancer treatment
Modifi’s therapeutic agents work by generating DNA lesions that can initially be repaired by MGMT but eventually evolve into more severe DNA damage, leading to MMR-independent cell death.
This innovative mechanism offers a potential pathway to treat cancers that have developed resistance to existing therapies, particularly after initial responses to agents like temozolomide.
David Weinstock, Vice President of Discovery Oncology at Merck Research Laboratories, noted, “DNA repair defects are a frequent hallmark of tumor cells and a major cause of resistance to cancer therapy.”
He emphasized that Modifi’s technology could extend its benefits beyond glioblastoma to other challenging cancer types.
Financial backing and future prospects
Modifi Biosciences, based in New Haven, Connecticut, has secured US $10.7 million in seed funding, backed by investors including the American Cancer Society’s investment arm, BrightEdge.
The acquisition by Merck positions the company to capitalize on the growing demand for effective cancer treatments, especially as its flagship immunotherapy, Keytruda, faces patent expiration by the end of the decade.
Merck’s ongoing commitment to advancing cancer therapies is further underscored by its recent US $5.5 billion partnership with Japan’s Daiichi Sankyo to develop targeted cancer therapies.
As the company integrates Modifi’s pioneering technologies, it aims to bolster its oncology portfolio and continue delivering innovative solutions for patients battling cancer.
