Alkeus, an unorthodox eye drug startup, acquired by Tarsus for up to $800M

Tarsus Pharmaceuticals to Acquire Alkeus for Up to $800M, Gaining Late-Stage Stargardt Disease Drug

Tarsus Pharmaceuticals agreed to acquire privately-held Alkeus Pharmaceuticals for $450 million upfront and up to $800 million total, gaining gildeuretinol (ALK-001), a Phase 3 oral therapy for Stargardt disease. The rare genetic eye condition affects over 36,000 people in the U.S. and currently has no FDA-approved treatment, with pivotal trial data expected in late 2029.