Inhibrx Biosciences has drawn interest from drugmakers including Merck & Co, Germany’s Merck and Japan’s Ono Pharmaceutical for an experimental cancer treatment that could be valued at more than $8 billion, people familiar with the matter said.
Why it matters
Inhibrx has said it believes its drug can boost the efficacy of New Jersey-based Merck’s more than $30-billion-a-year immunotherapy, the world’s top-selling prescription medicine. Shares of biotech firm surged more than 85% on the Reuters report.
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