Prometheus Biosciences
2023
$10.8B
Why
Merck acquired Prometheus to gain PRA023, a TL1A antibody for inflammatory bowel disease (ulcerative colitis and Crohn's disease). TL1A is considered one of the most promising new targets in immunology.
Impact
Added a potentially transformative immunology asset to Merck's pipeline, diversifying beyond oncology. If approved, the drug could compete in the $50+ billion immunology market.
Outcome
In late-stage clinical development. Results expected to determine whether the acquisition justifies its premium price.