Replies to post #355709 on Innovation Pharmaceuticals Inc (IPIX)

[farrell90]

It is a stunning turn. Merck after spending over 425 million dollars to acquire CD24Fc, it was pressing the FDA for approval a few weeks ago.


https://www.merck.com/news/merck-to-acquire-oncoimmune/

Its initial FDA application was met with skepticism as the FDA ask for more information to answer questions regarding its apparent outstanding initial FDA trials.

https://www.fiercebiotech.com/biotech/fda-tells-merck-told-to-show-more-data-for-its-oncoimmune-covid-drug-as-eua-pushed-back

Merck had even reach an agreement with the FDA to manufacture the drug.

https://www.merck.com/news/merck-announces-supply-agreement-with-u-s-government-for-initial-doses-of-investigational-biological-therapy-for-the-treatment-of-patients-with-severe-and-critical-covid-19/

Now they have withdrawn the drug. Wow how quickly things turn.

http://wearegeneralnews.com/merck-ends-development-of-covid-drug-it-acquired-from-oncoimmune/

GLTA Frrell

[Jhawker]

Maybe their ceo should be fired for this acquisition and bring such disgrace to the company.

[attilathehunt]

Merck announced Thursday it will end the development of a Covid-19 drug it acquired from biopharmaceutical company OncoImmune.

Merck disclosed in February that U.S. regulators had asked for more data on the drug to support a potential emergency use authorization.

Due to “regulatory uncertainties” and the time and resources needed to provide the additional data, Merck said it decided to discontinue the development of the drug.


It sure sounds like Merck is eyeing another company that is further along in it's pipeline. You can't tell me they didn't consider it a possibility that time and resources would be required for additional data! They are in the drug business and they deal with the FDA intimately. I think they are moving on to plan B!