​Merck takes stake in small Cambridge rare disease biotech, lifting shares

KalVista Pharmaceuticals, a small Cambridge biotech with a pair of rare disease treatments in early-stage studies, saw its market value soar on Tuesday after announcing that drug giant Merck has taken a 10 percent stake in the company. KalVista (Nasdaq: KALV) said it had struck a deal with Merck (NYSE: MRK) under which the companies will collaborate to develop treatments for diabetic macular edema, or DME, a complication of diabetes in which fluid builds up in the retina. Under the agreement, KalVista…
Source: bizjournals.com Health Care:Pharmaceuticals headlines - Category: Pharmaceuticals Authors: Source Type: news