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Market reaction to Merck's ophthalmology sector expansion by end of 2024
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Story
Merck to Acquire Kate Bingham-Backed EyeBio for Up to $3 Billion
May 29, 2024, 10:43 AM
Merck & Co., known as MSD outside of the United States and Canada, has announced a definitive agreement to acquire the Kate Bingham-backed ophthalmology-focused biotechnology company EyeBio for up to $3 billion. The deal includes an upfront payment of $1.3 billion, with an additional $1.7 billion contingent on milestone achievements. EyeBio, a clinical-stage company, is developing treatments for common eye diseases, including the Restoret drug for retinal diseases, and will enter late-stage clinical testing in the coming months. This acquisition marks Merck's continued efforts to expand its presence in the ophthalmology sector.
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