The pharmaceutical company Merck has reached an agreement to acquire Caraway Therapeutics, a biotechnology company specializing in the study of cellular waste removal machinery.
Caraway Therapeutics has four drug programs in preclinical phase, with the most advanced targeting an ion channel that Merck already had on its radar.
The transaction, valued at up to 610 million dollars, includes an undisclosed initial payment and conditional payments based on milestones.
Despite maintaining a low profile, Merck has shown interest in Caraway Therapeutics' portfolio due to its great potential. The biotechnology company focuses on developing treatments for rare and neurological diseases that seek to restore cellular balance.
Caraway Therapeutics, formerly known as Rheostat Therapeutics, raised 23 million dollars in a Series A funding round in 2018, backed by various pharmaceutical venture funds, including one from Merck.
The company operates in the field of rare and neurological diseases, exploring how targeting the TRPML1 ion channel can contribute to the treatment of diseases such as Parkinson's disease associated with mutations in the GBA gene.
This acquisition is the latest in a busy year of negotiations for Merck, which previously acquired Prometheus Therapeutics for approximately 11 billion dollars in early 2023, obtaining a drug for advanced-stage intestinal disease.
Additionally, in October, it agreed to pay 5.5 billion dollars to Daiichi Sankyo to access three antibody-drug conjugates against cancer.
Merck's investment in Caraway Therapeutics reflects the growing interest in the neuroscience sector, which shows signs of recovery in recent years, after many major pharmaceutical companies abandoned or reduced priority in this field in the late previous decade due to clinical setbacks.
Information from: ConsultorSalud.
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