(Reuters) – Merck said on Wednesday it would acquire eye disease drug developer EyeBio for up to $3 billion, in the latest acquisition by the U.S. drugmaker as it looks to boost growth.
Under the deal, Merck would pay $1.3 billion upfront and up to $1.7 billion in future milestone payments.
Merck had said in February it was in the market for deals of up to around $15 billion, and has already struck two major deals this year, as its blockbuster cancer immunotherapy Keytruda is set to lose exclusivity by the end of the decade.
London-based EyeBio, which operates as Eyebiotech Ltd, has operations in the United States and the UK and is backed by SV Health Investors and MRL Ventures.
(Reporting by Christy Santhosh in Bengaluru; Editing by Shilpi Majumdar)
