AcquisitionsAug 6, 2026, 07:04 AM
Tarsus to Acquire Alkeus for $450M Upfront, Adding Phase 3 Asset
AI Summary
Tarsus Pharmaceuticals, Inc. announced a definitive agreement to acquire Alkeus Pharmaceuticals, Inc., a privately held biotechnology company, for an upfront consideration of $450 million, consisting of $270 million in cash and $180 million in Tarsus common stock, plus up to $350 million in milestones and low single-digit royalties. This acquisition will add gildeuretinol (ALK-001), a Phase 3 oral investigational medicine for Stargardt disease, expanding Tarsus' presence in retina therapeutics. Gildeuretinol has received Breakthrough Therapy, Orphan Drug, and Rare Pediatric Disease designations, with top-line Phase 3 data expected in late 2029.
Key Highlights
- Tarsus Pharmaceuticals to acquire Alkeus Pharmaceuticals for up to $800 million.
- Upfront consideration includes $270 million in cash and $180 million in Tarsus common stock.
- Up to $350 million in milestones upon regulatory approval and first commercial sale.
- Low single-digit tiered descending royalties on gildeuretinol net sales.
- Acquisition adds gildeuretinol (ALK-001), a Phase 3 oral investigational medicine for Stargardt disease.
- Gildeuretinol has Breakthrough Therapy, Orphan Drug, and Rare Pediatric Disease designations.
- Top-line Phase 3 NORTHSTAR data for gildeuretinol expected in the second half of 2029.
- Stargardt disease affects over 36,000 people in the US with no FDA-approved therapies.
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