Merck & Co. has agreed to acquire Terns Pharmaceuticals for approximately $6.7 billion, the companies said today, in a deal designed to bolster the buyer’s cancer pipeline with that of Terns—led by an oral tyrosine kinase inhibitor (TKI) in an early-phase clinical trial for a form of chronic myeloid leukemia (CML). Terns’ lead and sole clinical candidate, TERN-701, is an allosteric break point cluster region–Abelson murine leukemia viral oncogene homolog 1 tyrosine kinase inhibitor (BCR::ABL1 TKI) designed to target the ABL myristoyl pocket, a mechanism of action that differs from that of traditional TKIs. TERN-701 is being assessed in the Phase I/II CARDINAL trial (NCT06163430) for patients with Philadelphia chromosome-positive (Ph+), chronic phase chronic myeloid leukemia (CML) previously treated with at least one prior TKI and who experienced treatment failure, suboptimal response, or treatment intolerance. TERN-701 was granted the FDA’s Orphan Drug Designation for the treatment of CML in 2024. “The acquisition of Terns builds on our growing presence in hematology with TERN-701, a potential best-in-class candidate for the treatment of certain patients with chronic myeloid leukemia,” Merck chairman and CEO Robert M. Davis said in a statement. “This transaction further diversifies and strengthens our position in oncology as we continue to look for opportunities to broaden our portfolio into other therapeutic areas.” Like other pharma giants, Merck is scrambling to recoup the billions of dollars in revenue it will lose as three of its aging blockbusters lose patent exclusivity over the next three years—the multi-indication cancer immunotherapy blockbuster Keytruda®…
