Merck paying $2.75B for cancer therapeutics firm VelosBio

The deal will broaden Merck’s oncology portfolio as it picks up an antibody-drug conjugate, a class of biological drugs that target tumor cells even as the pharma giant jettisons other parts of its business

VelosBio raises $137M Series B round to support suite of ROR1-targeting cancer drugs

The company is currently running a Phase I study of its lead candidate, the antibody-drug conjugate VLS-101, in patients with lymphomas and leukemias. It has two additional antibody-drug conjugates and a bispecific antibody in preclinical development.