Merck & Co. has agreed to acquire Peloton Therapeutics, a clinical-stage company that is primarily focused on the transcription factor HIF-2α (hypoxia-inducible factor-2α) which regulates the body’s response to oxygen availability. Peloton’s lead candidate is PT2977, which is in Phase II development for the treatment of both metastatic and von Hippel Lindau disease-associated renal cell carcinoma. The deal comes days before Peloton was set to float on the market to raise US$150 M.