By Puyaan Singh Aug 6 (Reuters) – Eye drugmaker 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 to its pipeline. The deal includes an upfront payment […]
Health
Tarsus to expand eye disease pipeline with up to $800 million Alkeus acquisition
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By Puyaan Singh
Aug 6 (Reuters) – Eye drugmaker 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 to its pipeline.
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.
• Tarsus shares were up 2% in early trading.
• 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.
• “We did some market research… showing structural benefit, functional benefit… a really nice safety profile. And we surveyed about 100 retinal docs… we really think this is a billion-dollar-plus opportunity,” said Chief Financial and Strategy Officer Jeff Farrow.
• “The price range we would consider… (is) around that $350,000 price point,” said interim commercial chief Neera Clase.
• 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.
• Separately, the company reported $173.9 million in second-quarter sales, beating Wall Street estimates of $169.7 million, according to data compiled by LSEG.
(Reporting by Puyaan Singh in Bengaluru; Editing by Jonathan Ananda)