FDA public announcements or Merck & Co. official statements

Merck to Acquire EyeBio for Up to $3 Billion with $1.3 Billion Upfront

May 29, 2024, 11:07 AM

Merck & Co. has announced a definitive agreement to acquire EyeBio, an ophthalmology-focused biotechnology company, for up to $3 billion. The deal includes an upfront payment of $1.3 billion, with an additional $1.7 billion contingent on achieving certain milestones. EyeBio, which is backed by Kate Bingham, is developing treatments for common eye diseases, including the Restoret drug for retinal diseases, and is set to enter late-stage clinical testing in the coming months. The acquisition brings a lead program ready for pivotal testing in diabetic macular edema. This move is part of Merck's strategy to expand its pipeline and presence in the ophthalmology market.