Merck & Co. announced a strategic collaboration with Infinimmune, a biotechnology company focused on human antibody discovery, on March 31 2026. The partnership will give Merck access to Infinimmune’s AI‑driven platform that analyzes human memory B cells to identify novel antibody candidates across oncology, immunology, and infectious disease. The deal includes an upfront payment (amount undisclosed) and milestone payments that could total up to $838 million.
The collaboration is part of Merck’s broader effort to diversify its portfolio ahead of the Keytruda patent cliff, expected to begin eroding revenue in 2028‑2029. Keytruda represented roughly 42 % of Merck’s 2023 sales and nearly half of its $65 billion revenue in 2025. By adding a pipeline of first‑in‑class biologics, Merck aims to offset the anticipated decline and maintain growth momentum.
Infinimmune’s platform, known as the Anthrobody discovery platform, leverages a proprietary GLIMPSE antibody language model to engineer antibodies from human immune cell data. The company, founded in 2022 by former 10x Genomics employees, has raised about $22 million and is developing its own preclinical pipeline, including an interleukin‑22‑targeting antibody for atopic dermatitis.
Merck’s recent financial performance underscores the strategic urgency of the partnership. In its Q4 2025 earnings, Merck reported worldwide sales of $16.4 billion and a non‑GAAP EPS of $2.04, with full‑year 2025 sales of $65.0 billion. The company forecast 2026 sales of $65.5 billion to $67.0 billion and a 2026 EPS guidance of $5.00 to $5.15, reflecting a one‑time charge related to the Cidara acquisition.
The Infinimmune deal complements Merck’s recent acquisitions, including the $6.7 billion purchase of Terns Pharmaceuticals and the $20 million upfront acquisition of Quotient Therapeutics, as well as the acquisitions of Verona Pharma and Cidara Therapeutics. Together, these moves aim to build a diversified pipeline of high‑potential assets that can sustain the company’s growth once Keytruda’s exclusivity ends.
Merck’s CEO Robert M. Davis has highlighted the company’s focus on advancing innovative approaches that improve the speed and rigor of drug discovery. The partnership with Infinimmune is expected to accelerate the identification of novel antibody therapeutics, potentially shortening the development timeline and reducing risk compared to traditional discovery methods.
While the upfront payment remains undisclosed and the specific disease targets are not yet public, the partnership signals Merck’s commitment to external innovation and its strategy to secure a robust pipeline of biologics that can drive long‑term revenue growth beyond its flagship immunotherapy.
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