Merck Completes Acquisition of EyeBio
July 12 2024 - 6:45AM
Business Wire
Acquisition strengthens and diversifies
Merck’s pipeline with the addition of Restoret™, a novel late-phase
candidate for diabetic macular edema and neovascular age-related
macular degeneration, as well as preclinical candidates
Merck (NYSE: MRK), known as MSD outside of the United States and
Canada, today announced the completion of the acquisition of
Eyebiotech Limited (EyeBio). EyeBio is now a wholly-owned
subsidiary of Merck.
“The EyeBio acquisition further diversifies our late-stage
pipeline with the addition of a promising candidate based on novel
biology and genetics for the treatment of certain retinal
diseases,” said Dr. Dean Y. Li, president, Merck Research
Laboratories. “We are excited to welcome the EyeBio team and look
forward to working together to advance Restoret for the patients
that need it.”
EyeBio’s lead candidate, Restoret™ (EYE103), 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. Based on
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 is scheduled to
advance into a pivotal Phase 2b/3 trial to evaluate its potential
for the treatment of patients with DME in the second half of
2024.
Additional pipeline candidates include clinical and preclinical
assets being developed for the prevention and treatment of vision
loss associated with retinal vascular leakage, a known risk factor
for retinal diseases.
Transaction details
Under the terms of the agreement, Merck, through a subsidiary,
has acquired all outstanding shares of EyeBio. As previously
disclosed, this transaction is being accounted for as an asset
acquisition. Merck will record a charge of approximately $1.3
billion, or approximately $0.50 per share in the third quarter of
2024, which will be included in non-GAAP results. As a matter of
policy, Merck provides updates to its financial outlook once each
quarter and will provide an update to its full-year financial
outlook when it reports second-quarter 2024 results on July 30.
About Restoret
Restoret is an investigational, potentially first-in-class
tetravalent, tri-specific Wnt antibody designed to address unmet
medical need in patients with retinal diseases, including diabetic
macular edema (DME) and neovascular age-related macular
degeneration (NVAMD). Restoret is administered as an intravitreal
injection seeking to eliminate vascular leakage in retinal diseases
by agonizing the Wnt pathway with the goal of restoring and
maintaining the blood-retinal barrier. Preclinical evidence
indicates that agonizing the Wnt pathway in the retina may reduce
vascular leakage.
About Merck
At Merck, known as MSD outside of the United States and Canada,
we are unified around our purpose: We use the power of leading-edge
science to save and improve lives around the world. For more than
130 years, we have brought hope to humanity through the development
of important medicines and vaccines. We aspire to be the premier
research-intensive biopharmaceutical company in the world - and
today, we are at the forefront of research to deliver innovative
health solutions that advance the prevention and treatment of
diseases in people and animals. We foster a diverse and inclusive
global workforce and operate responsibly every day to enable a
safe, sustainable and healthy future for all people and
communities. For more information, visit www.merck.com and connect
with us on X (formerly Twitter), Facebook, Instagram, YouTube and
LinkedIn.
Forward-Looking Statement of Merck & Co., Inc., Rahway,
N.J., USA
This news release of Merck & Co., Inc., Rahway, N.J., USA
(the “company”) includes “forward-looking statements” within the
meaning of the safe harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995. These statements are
based upon the current beliefs and expectations of the company’s
management and are subject to significant risks and uncertainties.
There can be no guarantees with respect to pipeline candidates that
the candidates will receive the necessary regulatory approvals or
that they will prove to be commercially successful. If underlying
assumptions prove inaccurate or risks or uncertainties materialize,
actual results may differ materially from those set forth in the
forward-looking statements.
Risks and uncertainties include but are not limited to, general
industry conditions and competition; general economic factors,
including interest rate and currency exchange rate fluctuations;
the impact of pharmaceutical industry regulation and health care
legislation in the United States and internationally; global trends
toward health care cost containment; technological advances, new
products and patents attained by competitors; challenges inherent
in new product development, including obtaining regulatory
approval; the company’s ability to accurately predict future market
conditions; manufacturing difficulties or delays; financial
instability of international economies and sovereign risk;
dependence on the effectiveness of the company’s patents and other
protections for innovative products; and the exposure to
litigation, including patent litigation, and/or regulatory
actions.
The company undertakes no obligation to publicly update any
forward-looking statement, whether as a result of new information,
future events or otherwise. Additional factors that could cause
results to differ materially from those described in the
forward-looking statements can be found in the company’s Annual
Report on Form 10-K for the year ended December 31, 2023 and the
company’s other filings with the Securities and Exchange Commission
(SEC) available at the SEC’s Internet site (www.sec.gov).
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