19 December 2014 - Healthcare company Merck (NYSE:MRK) stated on Thursday that its subsidiary has acquired the Swiss-based biotechnology company OncoEthix for an upfront payment of up to USD110m.

OncoEthix may receive additional milestone payments of up to USD265m upon certain clinical and regulatory events being achieved.

This acquisition provides Merck with an investigational, novel oral BET (bromodomain) inhibitor, OTX015, which is currently in Phase 1b studies for the treatment of hematological malignancies and advanced solid tumors. BET proteins are considered potential therapeutic targets in cancer, as they play a pivotal role in regulating the transcription of key regulators of cancer cell growth and survival.

Founded in 2009, OncoEthix is a Swiss-based privately held biotechnology company aiming to develop a small portfolio of oncology drug candidates. Its OTX015 is an investigational orally administered synthetic small molecule targeted to BET bromodomain proteins 2/3/4. OTX015 was in-licensed from Mitsubishi Tanabe Pharma in March 2012 following completion of Phase I clinical studies in healthy volunteers. OncoEthix has raised a total of USD30m in venture capital to date.