Merck sees value in EyeBio buy
US pharma giant Merck & Co (NYSE: MRK) is to buy Eyebiotech (EyeBio), a privately-held New York-based ophthalmology-focused biotech company.
Merck 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 milestones.
"The EyeBio team has successfully assembled a pipeline of novel candidates with the potential to provide new treatment options for patients with retinal disease"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.
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