STAT+: Reports: Looking to expand its pipeline, Merck to buy eye-disease startup EyeBio
LONDON — Merck is buying ophthalmology-focused startup EyeBio in a deal worth up to $3 billion, according to media reports, as the pharma company looks to diversify its pipeline.
Under the deal, Merck will pay $1.3 billion upfront, with another $1.7 billion if certain milestones are met. The Wall Street Journal first reported the news Tuesday night, and EyeBio’s CEO and board chair outlined in the deal in an interview with the Financial Times published Wednesday. The companies did not immediately comment.
EyeBio has been developing a drug called restoret for a number of retinal diseases, including age-related macular degeneration and diabetic macular edema. It presented data in February from a Phase 1/2 trial of restoret in both conditions.
