Tarsus Pharmaceuticals said on 6 August it had agreed to acquire Alkeus Pharmaceuticals, developer of the Stargardt disease candidate gildeuretinol, for $450m upfront in cash and stock.
Why Tarsus Pharmaceuticals is buying Alkeus Pharmaceuticals
Tarsus said the deal expands its presence in retina alongside IRX-101 and adds a potential blockbuster in Stargardt disease, which has more than 36,000 diagnosed US patients and no FDA-approved therapy.
Deal terms and financing
Upfront consideration is $270m in cash and $180m of Tarsus shares valued at $61.38 each. Alkeus holders can also receive up to $350m on US approval and first sale, plus revenue sharing on worldwide net sales.
Regulatory approvals and timing
The deal required Hart-Scott-Rodino clearance; Alkeus's website now says it has joined Tarsus.
Market context
Gildeuretinol has Breakthrough Therapy, Orphan Drug and Rare Pediatric Disease designations and has been given to more than 400 people.
