Xcovery to acquire a controlling stake in Meryx Pharmaceuticals.

Xcovery, an oncology focused bio-pharmaceutical company, agreed to acquire a controlling stake in Meryx Pharmaceuticals, a clinical stage immuno-oncology company. Financial terms are not disclosed. "We are thrilled to partner on a global level with Meryx, a firm with whom we already have an out-licensing collaboration in China. Meryx has done a remarkable job of developing an innovative cutting-edge oncology pipeline. We are looking forward to building on this impressive track record and collaborating closely with its team to advance the clinical trials of these promising drug candidates,” Lieming Ding, Xcovery Chairman.