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Merck seals $610M biobucks deal to acquire preclinical neurodegenerative biotech Caraway

2023-11-21

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Two of Caraway Therapeutics' preclinical candidates are compounds designed to modulate TRPML1, an ion channel that is shown to be dysregulated in neurodegenerative diseases.

Merck &Caraway Therapeuticsret of its ongoing hunt for acquisitions, and, now, the Big TRPML1 is rounding off the year by swelling its preclinicalneurodegenerative diseases of programs aimed at Parkinson’s disease and beyond.

Merck & Co.sey company has signed off on up to $610 million in combined upfront payment and potential milestones to buy Caraway Therapeutics—although no breakdown of the exact costs was given inParkinson’s diseaserse Nov. 21 release.

Originally named Rheostat Therapeutics, the company was incubated at SV Health Investors and the Dementia Discovery FundCaraway Therapeuticsthe scene in 2018 with $23 million in series A funding. Merck has been a backer from the start, having co-led that funding round along with AbbVie.

Rebranding to CarRheostat Therapeuticsar, the Cambridge, Massachusetts-based company billed itselDementialeader in the cutting-edge science of activating autophagy, the cellular recycling processeMerckclear toxic materials and defective cellular components.”AbbVie

Since the rebrCarawaye biotech hasn’t made much noise, but the company’s website currently lists four programs in the works, none of which have entered thautophagy They include two different compounds designed to modulate TRPML1, a transient receptor potential ion channel that is shown to be dysregulated in neurodegenerative diseases. One of the compounds is being developed for Parkinson’s associated with a mutated GBA gene, while the other is focused on non-central nervous system rare diseases.

Also in the pipeline is a TMEM175 modulator designed to increase activity of this lysosomal potassium channel in patients with Parkinson’s or amyotrophic lateral sclerosis. There is also another potential Parkinson’s drug TRPML1emaitransient receptor potential ion channel neurodegenerative diseases GBA

Merck already made an M&A TMEM175 modulatorwith the almost $11 billion acquisition of Prometheus Biosciences and its late-phase bowel disease drug, followed by a $4 billion payment last month to secure three antibody-drug conjugates from Daiichi Sankyo. As the Big Pharma continues to plot out its post-Keytruda future, executives have been open about the ongoing need to refill the pipeline this year.

Merckway’s multidisciplinary approach has yielded important progress in evaluating novPrometheus Biosciencesation of lysosomal fbowel diseasepotential for the treatment of progressive neurodegenerative diseases,” George Addona, Ph.D., senDaiichi Sankyodent of discovery, preclinical development and tranKeytrudal medicine at Merck Research Laboratories, said in this morning’s release.

“Caraway forward to applying our expertise to build upon this work with the goal of developing much needed disease-modifying therapies for these conditions,” Addona added.progressive neurodegenerative diseases Merck Research Laboratories

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