Aug 6 (Reuters) – Eye drug maker Tarsus Pharmaceuticals said on Thursday it would acquire privately held Alkeus Pharmaceuticals in a cash-and-stock deal worth up to $800 million, adding an experimental oral therapy for a rare inherited retinal disorder with no approved U.S. treatment.
Tarsus shares were down 3% in premarket trading.
• The deal includes an upfront payment of about $450 million, comprising $270 million in cash and $180 million in Tarsus common stock, the companies said.
• Alkeus stockholders could receive up to $350 million more tied to regulatory approval and first commercial sale milestones, as well as low-single-digit percentage royalties on net sales of the drug, gildeuretinol.
• Gildeuretinol, also known as ALK-001, could slow retinal damage and help preserve vision in patients with Stargardt disease, said Tarsus.
• Stargardt disease often begins in childhood or adolescence and progressively damages central vision, affecting patients’ ability to read, recognize faces and drive.
• More than 36,000 people in the United States have been clinically diagnosed with the disease, Tarsus said.
• Gildeuretinol is designed to target the accumulation of toxic vitamin A dimers that damage retinal cells in patients with the disease, said Tarsus.
• Tarsus’ portfolio includes Xdemvy, which is approved to treat demodex blepharitis, an eyelid inflammation from an overgrowth of microscopic mites.
• It is also developing a drug for a type of eye inflammation and an ocular antiseptic, among others.
• Initial data from Gildeuretinol’s ongoing late-stage trial is expected in the second half of 2029.
• The transaction is expected to close in 2026, subject to regulatory clearance and customary conditions.
(Reporting by Puyaan Singh in Bengaluru; Editing by Jonathan Ananda)
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