Merck acquires Caraway Therapeutics for up to $610 million

Merck acquires Caraway Therapeutics for up to 610 million

(Finance) – Merckknown as MSD outside the United States and Canada, has entered into a definitive agreement to acquire Caraway Therapeutics for a consideration of up to 610 million dollars, including an undisclosed upfront payment and contingent milestone payments. The upfront payment will be charged by Merck in the fourth quarter of 2023.

“Caraway’s multidisciplinary approach has produced important advances in the evaluation of novel mechanisms of modulation of lysosomal function with potential for the treatment of progressive neurodegenerative diseases” said George Addona, senior vice president, discovery, preclinical development and translational medicine, Merck Research Laboratories.