In December 2022, Prometheus announced positive results for MK-7240 from ARTEMIS-UC, a Phase 2, placebo-controlled study evaluating safety and efficacy in patients with moderate-to-severely active UC and APOLLO-CD, and a Phase 2A, open-label study evaluating safety and efficacy in patients with moderate-to-severe CD. The findings were recently presented at the 18th Congress of European Crohn's and Colitis Organisation (ECCO). "At Merck we have deep expertise in clinical development with a proven record of implementing precision medicine strategies," said Dr. Dean Y. Li, president of Merck Research Laboratories. "By combining our strengths, Merck and Prometheus are well-positioned to advance MK-7240 and additional pipeline candidates." Additional Transaction Details Under the terms of the acquisition agreement, Merck, through a subsidiary, has acquired all outstanding shares of Prometheus for $200.00 per share in cash for a total equity value of approximately $10.8 billion.