Apellis Pharmaceuticals is buying Potentia Pharmaceuticals for an undisclosed amount.
Potentia develops a complement inhibitor for the treatment of dry age-related macular degeneration, which causes vision loss. The product, APL-2, is expected to enter Phase II clinical testing in the middle of 2015.
Apellis will continue trials of the drug. The buyer is a clinical-stage immunotherapy company that was spun out of Potentia Pharmaceuticals.
Pharmaceutical M&A has been booming. Recent deals include Aegerion Pharmaceuticals Inc.'s (Nasdaq: AEGR) purchase of Myalept earlier in November, and Warburg Pincus' $92 investment in Laurus Labs Private Ltd.