Survac acquired by Merck
Copenhagen - Darmstadt-based Merck KGaA has acquired the Danish biotechnology company Survac ApS for Euro11 million to access novel technologies for the treatment of cancer. Survac was founded three years ago in Copenhagen with financial support from DTU Innovation and a consortium of Danish venture capital firms. The company's business is run on virtual basis in collaboration with leading European academic institutes and clinics. The founders of Survac have developed a technology to identify and modify peptides that are useful for therapeutic cancer vaccines.
The acquisition includes all intellectual property owned by Survac, including the broad patent portfolio in the area of proteins that are essential for the survival of cancer cells and are ideal targets for cancer treatments. In clinical trials, the lead candidate was able to generate strong immune response to cancer cells in patients without the need for elaborated delivery technologies or specialized adjuvants. “Survacs lead candidate already shows highly encouraging results,” Dr. Wolfgang Wein, Mercks Senior Vice President comments. Merck will integrate Survacs activities into its R&D organization and intends to initiate pre-clinical development of the first product in 2006.