MSD to Acquire Therapeutics Pioneer Rigontec
Frankfurt - Paul Hastings LLP, a leading global law firm, announced today that it is advising biopharmaceutical company MSD (tradename of Merck & Co., Inc., Kenilworth, N.J., USA (
Under the terms of the agreement, MSD will make an upfront cash payment of €115 million to Rigontec’s shareholders; based on the attainment of certain clinical, development, regulatory and commercial milestones, MSD may make additional contingent payments of up to €349 million. The transaction is subject to certain closing conditions.
Rigontec is a pioneer in accessing the retinoic acid-inducible gene I (RIG-I) pathway, part of the innate immune system, as a novel and distinct approach in cancer immunotherapy to induce both immediate and long-term anti-tumor immunity. Rigontec’s lead candidate, RGT100, is currently in Phase I development evaluating treatment in patients with various tumors.
Rigontec was founded in 2014 as a spin-out of the University Bonn, Germany, and has to date raised close to €30 million from experienced life science investors including Boehringer Ingelheim Venture Fund, Forbion Capital Partners, High-Tech Gründerfonds, MP Healthcare Venture Management, NRW.BANK, Sunstone Capital and Wellington Partners Life Sciences.
The Paul Hastings team was led by Frankfurt corporate partner
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