Merck, a science and technology company, has acquired Chord Therapeutics, a clinical stage biopharmaceutical company developing drugs for rare neuroinflammatory diseases.

The deal will expand Merck’s neurology pipeline to develop Chord’s lead drug candidate, CRD1, for the treatment of gMG and NMOSD. Merck intents to leverage its capabilities to further develop a CRD1 product for market. Chord was launched in October 2020 by sole investor, Omega Funds.

“I am very pleased with Chord’s progress over the last year since our launch,”added Tom Plitz, Chord CEO. “I am grateful to Omega Funds for their support and financing, and for sharing our vision of the potential of cladribine in in NMOSD and gMG.”

Lazard acted as financial advisor and Baker McKenzie acted as legal advisor to Chord on the transaction, which is expected to close in early 2022 after satisfactory completion of customary closing conditions.