Published on 29 May 2024 on Reuters via Yahoo Finance
By Christy Santhosh
(Reuters) -Merck on Wednesday agreed to buy privately held biotech EyeBio for as much as $3 billion, as it looks to diversify its portfolio of experimental drugs with treatments for eye diseases.
The drugmaker agreed to pay $1.3 billion in cash and another $1.7 billion in future milestone-based payments for EyeBio, and will gain access to its retinal disease drug Restoret as part of the deal.