Tarsus to buy Alkeus in deal worth about $450 million upfront
TARS•Tarsus to acquire Alkeus Pharmaceuticals
Tarsus agreed to buy privately held Alkeus Pharmaceuticals, adding Phase 3 Stargardt disease candidate gildeuretinol (ALK-001) to its eye-care pipeline.
Deal terms include about USD 450 million upfront, split into USD 270 million cash and USD 180 million in Tarsus common stock.
Alkeus holders could receive up to USD 350 million in milestones tied to regulatory approval and first commercial sale.
The transaction includes low single-digit, tiered descending royalties on gildeuretinol net sales.
Top-line Phase 3 NORTHSTAR data are expected in 2H 2029; closing is expected in 2026, subject to customary conditions.
