Tarsus Pharmaceuticals agreed to acquire Alkeus Pharmaceuticals in a transaction valued up to $800 million, bringing a late-stage Stargardt disease program closer to potential commercialization. The deal signals continued appetite for ophthalmology assets as companies seek near-term development paths and clearer regulatory routes. Alkeus’s Stargardt therapy is in late-stage testing and has been described by former Vertex executive chairman Josh Boger as a standout concept if it delivers on its clinical promise. Under the agreement, Tarsus is positioned to broaden its retina portfolio. The announced consideration reflects the value placed on ophthalmic orphan indications and the market’s expectation for late-stage differentiation.