KENILWORTH (NJ) (dpa-AFX) - Merck (MRK) and Eyebiotech, a privately held
ophthalmology-focused biotechnology company, announced they have entered into a
definitive agreement under which 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.

Merck expects to record a charge of approximately $1.3 billion, or approximately
$0.50 per share, that will be included in non-GAAP results in the quarter that
the transaction closes. The transaction is expected to close in the third
quarter of 2024.

EyeBio is developing a pipeline of clinical and preclinical candidates for the
prevention and treatment of vision loss associated with retinal vascular
leakage. The company's lead candidate, Restoret, is an investigational,
potentially first-in-class tetravalent, tri-specific antibody. Restoret is
anticipated to advance into a pivotal Phase 2b/3 trial to investigate the
treatment of patients with DME in the second half of 2024.

For More Such Health News, visit rttnews.com.



Copyright(c) 2024 RTTNews.com. All Rights Reserved

Copyright RTT News/dpa-AFX