Merck acquires Chord Therapeutics to expand Neuroinflammatory Pipeline

Merck, a global science and technology company, has entered into an agreement to acquire Chord Therapeutics, a Swiss-based biotech company focused on rare neuroinflammatory diseases. With this step, Merck expands its neurology pipeline with the acquisition of the rights to develop cladribine for the treatment of generalized myasthenia gravis (gMG) and neuromyelitis optica spectrum disorder (NMOSD).

The deal is expected to close in early 2022 after satisfactory completion of customary closing conditions.

Walder Wyss advises Merck as lead counsel on this transaction. The Walder Wyss team is led by Christian Lütolf (managing associate, corporate/m&a, pictured) and included Christian A. Schmid (associate, corporate/m&a), Christine Schweikard (associate, IP/IT), Christoph Stutz (counsel, employment), Felix Tuchschmid (associate, IP/IT) and Livia Häberli (trainee lawyer, corporate/m&a).

Lazard acted as financial advisor and Baker McKenzie acted as legal advisor to Chord on the transaction.