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Merck Completes Acquisition of Eyebiotech Limited

NextEdge Admin

12 Jul 2024

2 min 16 sec

Merck, known as MSD outside the United States and Canada, has finalized the acquisition of Eyebiotech Limited (EyeBio), now a wholly-owned subsidiary of Merck.

Dr. Dean Y. Li, president of Merck Research Laboratories, stated, "The EyeBio acquisition diversifies our late-stage pipeline with a promising candidate based on novel biology and genetics for retinal diseases. We are excited to welcome the EyeBio team and advance Restoret for patients in need."

EyeBio's lead candidate, Restoret™ (EYE103), is an investigational tetravalent, tri-specific antibody that acts as an agonist of the Wingless-related integration site (Wnt) signaling pathway. Following positive results from the open-label Phase 1b/2a AMARONE study in patients with diabetic macular edema (DME) and neovascular age-related macular degeneration (NVAMD), Restoret will progress to a pivotal Phase 2b/3 trial in the second half of 2024 to evaluate its potential for treating DME.

EyeBio’s pipeline includes clinical and preclinical assets aimed at preventing and treating vision loss from retinal vascular leakage, a risk factor for retinal diseases.

Transaction Details

Merck, through a subsidiary, acquired all outstanding shares of EyeBio. This transaction is accounted for as an asset acquisition, and Merck will record a charge of approximately $1.3 billion, or about $0.50 per share, in the third quarter of 2024, included in non-GAAP results. Merck will provide an update to its full-year financial outlook when it reports second-quarter 2024 results on July 30.