Short Tips: : Merck paying $610 million for Caraway Therapeutics

Short Tips: : Merck paying $610 million for Caraway Therapeutics

Merck & Co. Inc. MRK said Tuesday it agreed to pay up to $610 million to acquire Caraway Therapeutics, a preclinical biopharmaceutical company pursuing new approaches for the treatment of genetically defined neurodegenerative and rare diseases. The company’s pipeline includes novel, small-molecule therapeutics for the treatment of genetically defined neurodegenerative and rare diseases. Investors in Caraway Therapeutics include SV Health Investors and its Dementia Discovery Fund, AbbVie Ventures, Amgen Ventures, Eisai Innovation and Merck’s MRL Ventures Fund, which invested in the company in 2018. Merck’s upfront payment…