Tarsus Pharmaceuticals announced it will acquire Alkeus Pharmaceuticals for up to $800 million, including ownership of ALK-001 (gildeuretinol), a once-daily, Phase 3-stage therapy for Stargardt disease. The deal structure positions Tarsus to broaden into disease-modifying eye care at a time when Stargardt still lacks FDA-approved treatments. Alkeus’ program is expected to become a centerpiece for Tarsus’ near-term pipeline strategy, as the company frames ALK-001 as potentially foundational for Stargardt management. The acquisition also adds another large-scale China-sourced opportunity to a US ophthalmology portfolio. The transaction underscores how ophthalmology has become a frequent target for platform-builders seeking assets with late-stage clinical evidence.