Merck ( MRK ) is trending on Friday. The company announced the acquisition of EyeBio, introducing a novel candidate to Merk’s pipeline, Restoret.

What To Know: Restoret has shown promising results in a Phase 1b/2a AMARONE study in participants with diabetic macular edema (DME) and neovascular age-related macular degeneration (NVAMD).

The treatment is anticipated to advance to a Phase 2b/3 trial to further assess its potential as a treatment for DME later this year.

“The EyeBio acquisition further diversifies our late-stage pipeline with the addition of a promising candidate based on novel biology and genetics for the treatment of certain retinal diseases,” said Dean Y. Li, president, Merck Research Laboratories. “We are excited to welcome the EyeBio team and look forward to working together to advance Restoret for the patients that need it.”

Other potential pipeline candidates consist of clinical and preclinical assets being developed to prevent and treat vision loss linked to retinal vascular leakage, which is a recognized risk factor for retinal diseases.

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MRK Price Action: At the time of writing, Merck ( MRK ) stock is trading 0.57% lower at $128.22, according to data from Benzinga Pro.

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