Takeda Ventures and Chiesi Ventures are set to exit the cancer drug developer through the deal, which came after just over $200m in funding.

Pharmaceutical firm Merck & Co agreed yesterday to acquire oncology therapy developer VelosBio for $2.75bn in cash, enabling pharmaceutical companies Chiesi and Takeda, to exit. Founded in 2017, VelosBio is working on cancer drugs targeted at a type of protein known as the tyrosine kinase-like orphan receptor 1. The company‚Äôs lead product candidate, VLS-101, is…

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