Tarsus Pharmaceuticals has announced that it is purchasing biotechnology firm Alkeus Pharmaceuticals, strengthening its position as one of the leaders in eye care.
The acquisition includes the oral, once-daily, investigational, new molecular entity gildeuretinol (ALK-001), designed to treat Stargardt disease by reducing toxic vitamin A dimers from accumulating to slow retinal damage while preserving vision. The drug has Breakthrough Therapy, Orphan Drug, and Rare Pediatric Disease designations. Currently, there are no FDA-approved therapies for the inherited retinal disease. Results from the phase 3 trial of gildeuretinol are expected in the second half of 2029.
The definitive agreement consists of an upfront consideration of $270 million cash and $180 million in common stock. Milestones for the first commercial sale will be up to $350 million, upon regulatory approval, and low single-digit tiered descending royalties will be a percentage of net sales for gildeuretinol.