Pharma BD Deal Intelligence
Merck (NYSE: MRK) acquired Harpoon Therapeutics for $23.00 per share, or approximately $680 million, in a cash tender offer announced January 8, 2024 and completed March 11, 2024. The strategic rationale was Harpoon's lead T-cell engager HPN328 (subsequently renamed MK-6070, INN gocatamig), a DLL3-targeting TriTAC for small cell lung cancer and other high-grade neuroendocrine tumors. Post-close, Merck moved quickly to share the asset's risk and cost: on August 6, 2024 Daiichi Sankyo and Merck entered a global co-development and co-commercialization agreement for MK-6070, under which Merck received a $170 million upfront payment and the companies share R&D and commercialization expenses and profits worldwide except Japan, where Merck retains exclusive rights. MK-6070 remains in the Phase 1/2 trial NCT04471727 (active, not recruiting as of February 2026), evaluated as monotherapy and in combination with atezolizumab and with ifinatamab deruxtecan (I-DXd) in SCLC.