A Chester County biopharmaceutical company is making a major merger with a biotech company in Seattle. Exton-based Immunome will acquire Seattle’s MorphImmune through a reverse subsidiary merger, writes John George for the Philadelphia Business Journal.
Immunome will own 55 percent of the company and MorphImmune will own 45 percent. Both companies focus on cancer care, and the newly merged company will be based in Seattle under the auspices of Immunome, with a research lab in Exton.
The transaction is still awaiting approval from the shareholders. Immunome is a 37-employee company which focuses on the discovery of antibody therapeutics through human memory B cells. It also is in the process of developing a COVID-19 therapy.
MorphImmune’s Clay B. Siegall will be the CEO of the newly-merged company, which also recently announced a $125 million investment from a multitude of investors.
“This is the first step in establishing a preeminent oncology company,” said Siegall. “Combining MorphImmune’s platform with Immunome’s [drug-]discovery engine will enable us to pursue novel targets and modalities.”
Read more about the Exton-based pharma company’s merger in the Philadelphia Business Journal.
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