Merck Inc., to acquire Eye Bio and with it Restoret (EYE 102) to treat retinal vascular leakage.
Merck ,known as MSD outside of the United States and Canada, and EyeBiotech Limited (EyeBio), a privately held ophthalmology-focused biotechnology company, announced that the companies have entered into a definitive agreement under which Merck, through a subsidiary, will acquire EyeBio.
Under the terms of the agreement, Merck, through a subsidiary, will acquire all outstanding shares of EyeBio for up to $3 billion, including an upfront payment of $1.3 billion in cash and a further potential $1.7 billion in developmental, regulatory and commercial milestone payments. The acquisition has been unanimously approved by the EyeBio Board of Directors. EyeBio is developing a pipeline of clinical and preclinical candidates for the prevention and treatment of vision loss associated with retinal vascular leakage, a known risk factor for retinal diseases. The company’s lead candidate, Restoret (EYE 103), is an investigational, potentially first-in-class tetravalent, tri-specific antibody that acts as an agonist of the Wingless-related integration site (Wnt) signaling pathway.
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