Merck has agreed to buy Prometheus Biosciences, an immunology biotech with an ulcerative colitis candidate, for around $10.8 billion in cash.
Prometheus went public in March 2021 after raising around $200 million in VC funding from backers like Cedars Sinai , RTW Investments , Point72 and Cormorant Asset Management.
"The breadth of Prometheus' list of potential target diseases, which includes rheumatoid arthritis, atopic dermatitis, psoriasis and other blockbuster indications, is underpinned by evidence that TL1A modulates the location and severity of inflammation and fibrosis."
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