Rahway-based Merck on Friday said it completed its previously announced acquisition of Eyebiotech Ltd. for $1.3 billion upfront and up to another $1.7 billion in milestone payments.
EyeBio is now a wholly-owned subsidiary of Merck.
“The EyeBio acquisition further diversifies our late-stage pipeline with the addition of a promising candidate based on novel biology and genetics for the treatment of certain retinal diseases,” Dean Y. Li, president, Merck Research Laboratories, said. “We are excited to welcome the EyeBio team and look forward to working together to advance Restoret for the patients that need it.”
