Merck & Co. has acquired Modifi Biosciences, a developer of cancer therapies that was spun out of Yale University, in a deal potentially worth more than $1 billion.

Modifi Biosciences announced that the company has been acquired by Merck (MRK). Under the terms of the agreement Merck, through a subsidiary,

In founding Modifi Biosciences, we sought to radically change the oncology treatment paradigm for cancer patients with glioblastoma and other tumors,” said Ranjit S. Bindra, MD, PhD, Modifi Biosciences Co-founder,