Reported 4 months ago
Merck has agreed to acquire EyeBio, a biotech company focused on developing treatments for eye diseases, for up to $3 billion. The deal includes a $1.3 billion cash payment and an additional $1.7 billion in milestone-based payments. This acquisition is part of Merck's strategy to diversify its drug portfolio beyond its blockbuster immunotherapy Keytruda, which is set to lose patent protection soon. EyeBio's retinal disease drug Restoret is a key asset in the deal and is expected to enter mid- to late-stage trials for diabetic macular edema and neovascular age-related macular degeneration.
Source: YAHOO