Merck & Co. is putting down $30 million upfront to buy Yale spinout Modifi Biosciences, a deal that includes a preclinical asset designed to take on the tough-to-treat brain cancer glioblastoma (GBM). “We pitched to venture capitalists and the light switch would just go off when we talked about GBM,” Ranjit Bindra, M.D., Ph.D., Modifi co-founder and physician-scientist at the Yale School of Medicine, told Fierce Biotech in an interview. “You talk to a group like Merck—the light switch goes on.” Modifi previously struggled to gain strong investor support, which Bindra attributed to a chaotic market and Modifi’s desire to stick to GBM, a relatively rare cancer. Now, Merck’s Big Pharma firepower used for a disease like GBM could “change the whole landscape,” Bindra said. Modifi shareholders will be eligible for further payments totaling up to $1.3 billion if certain milestones are met, the companies announced in an Oct. 23 release. These milestones include major events related to clinical trials and potential regulatory approval, Bindra said. The biotech will operate as a wholly owned subsidiary of Merck, according to Bindra, who will serve as a consultant with Merck for the transition period and plans to play an active role in the drug’s clinical development.

Full report : Merck sets sights on brain cancer with $30M Modifi acquisition.