VelosBio to be Acquired by Merck for $2.75 billion

VelosBio to be Acquired by Merck for $2.75 billion

RESEARCH TRIANGLE PARK, NCNov. 5, 2020 — Pappas Capital, a leading venture capital firm focused on advancing life sciences, today announced that its portfolio company, VelosBio Inc. (“VelosBio” or the “Company”), has entered into a definitive agreement to be acquired by a subsidiary of Merck (NYSE: MRK) for $2.75 billion in cash, subject to customary adjustments. The exit is amongst Pappas Capital’s most successful in its 25-plus-year history.