The pharmaceutical giant will pay USD221.50 per share in cash to purchase the US biotech company, which has developed an innovative platform called drug-Fc conjugates (DFCs).
The acquisition aims to connect ambulatory care centers, teleradiology services, and hospital systems through unified imaging technology.
A company spokesperson explained that Moderna has “prioritized our pipeline and R&D investments as part of our broader cost efficiency efforts,” though the company provided no additional details about the specific discontinuations.
Through this partnership, Merck gains access to Valo’s advanced AI-powered human causal biology and discovery platforms, which the drugmaker will use to identify new disease targets and develop preclinical compounds.
The deal promises to generate up to USD90 million in savings for Gavi and participating countries over the next five years.
The company’s Pharma business unit led the strong performance, delivering sales growth of 32%, including 20% organic growth.
The new facility will produce molecules for medical trials. These expansions will create 200 additional jobs in Frederick and 100 more in Gaithersburg.