Merck to Acquire Imago BioSciences, Inc.



Merck (NYSE: MRK), known as MSD outside the United States and Canada, and Imago BioSciences, Inc. (Nasdaq: IMGO) announced today that they have entered into a definitive agreement in which Merck, through a subsidiary, will acquire Imago for $36.00 per share in cash, for a total equity value of approximately $1.35 billion.

Imago is a clinical-stage biopharmaceutical firm that is exploring innovative treatments for myeloproliferative neoplasms (MPNs) and other bone marrow illnesses. The investigational orally available lysine-specific demethylase 1 (LSD1) inhibitor bomedemstat (IMG-7289) of Imago is currently being evaluated in multiple Phase 2 clinical trials for the treatment of essential thrombocythemia (ET), myelofibrosis (MF), and polycythemia vera (PV), among other indications.

Merck will launch a tender offer to acquire all outstanding shares of Imago under the provisions of the purchase agreement. The tender offer will be closed subject to certain requirements, including the tender of shares representing at least a majority of Imago’s outstanding shares, the expiration of the Hart-Scott-Rodino Antitrust Improvements Act waiting period, and other customary restrictions.

Following the successful conclusion of the tender offer, Merck’s acquiring subsidiary will be merged with Imago, and any remaining shares of Imago common stock will be canceled and converted into the right to receive the tender offer’s $36 per share price. The deal is scheduled to be completed in the first quarter of 2023.

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