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Mergers & Acquisitions

Merck & Co. to buy neuroscience firm Caraway for $610 million

by Laura Howes
November 23, 2023 | A version of this story appeared in Volume 101, Issue 39
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Merck & Co. will acquire neuroscience-​focused Caraway Therapeutics for up to $610 million in up-front and milestone payments. Merck has been a shareholder in the biotechnology firm since it launched in 2018 and will now purchase all outstanding shares in the company. In Caraway, Merck gets a pipeline of small-​molecule candidates for treating neuro​degenerative diseases. These drugs activate cellular recycling processes by modifying lysosomal function.

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