Merck & Co Inc is to acquire the California-based biotechnology company Prometheus Biosciences Inc for $10.8 billion giving it a group of clinical assets directed against immune-mediated diseases. The target company’s lead asset is a monoclonal antibody for the treatment of ulcerative colitis, Crohn’s disease and other autoimmune conditions. Merck, through a subsidiary, will buy Prometheus for $200 per share in cash. The transaction is expected to close in the third quarter.
