United States-based Merck has signed a contract to acquire Immune Design, a late-stage immunotherapy firm that has next-generation in vivo approaches to assist the body's immune system to fight disease.

It was reported on Friday that the deal is valued at around USD300m. According to the terms of the deal, Merck's subsidiary will pay USD5.85 per share to purchase all outstanding shares of Immune Design.

Merck Research Laboratories president Dr Roger Perlmutter said, 'Scientists at Immune Design have established a unique portfolio of approaches to cancer immunisation and adjuvant systems designed to enhance the ability of a vaccine to protect against infection, which could meaningfully improve vaccine development. This acquisition builds upon Merck's industry-leading programs that harness the power of the immune system to prevent and treat disease.'