Merck is acquiring South San Francisco-based Harpoon Therapeutics, an oncology drugmaker, for approximately $680 million.
Harpoon has developed a portfolio of novel T-cell engagers and proprietary platforms that deliver engineered proteins to direct a patient's own immune cells to kill tumors. The company also has additional cancer drugs in early clinical trials, according to a Jan. 8 Merck news release.
The acquisition is expected to be completed in the first half of 2024.