Merck (NYSE: MRK) has acquired a Swiss cancer drug development company, OncoEthix, for $110 million.

OncoEthix is developing an oral bromodomain inhibitor, OTX015, which is in Phase 1b studies for the treatment of hematological malignancies and advanced solid tumors. The deal could include additional milestone payments of up to $265 million depending on certain clinical and regulatory milestones.

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