Overview

• Merck will pay $1.3 billion upfront and up to $1.7 billion in milestone payments.
• EyeBio's lead candidate, Restoret, targets retinal diseases like diabetic macular edema and age-related macular degeneration.
• The deal marks Merck's return to the eye drug segment after a decade-long absence.
• Merck is diversifying its portfolio ahead of Keytruda's patent expiration in 2028.
• The transaction is expected to close in the third quarter of 2024.