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Santen Pharmaceutical and InnFocus announced that the two companies have entered into a definitive agreement under which Santen will acquire privately held InnFocus, developer of the InnFocus MicroShunt glaucoma implant device.
Under the terms of the agreement, Santen will acquire InnFocus for an upfront payment of $225 million, plus development, regulatory and commercial milestone payments, according to a company news release.
InnFocus is developing the MicroShunt implant to lower and sustain IOP for the treatment of primary open-angle glaucoma (mild to severe stage disease). The MicroShunt has shown significant and sustainable lowering of IOP when used alone or in combination with cataract surgery in clinical trials outside of the United States. Late stage clinical studies are underway in the US and Europe in advance of PMA (premarket approval) application to the FDA planned in the near future. The MicroShunt has received CE Mark in Europe.
"With this acquisition, Santen will strengthen our glaucoma pipeline and stay at the forefront of innovation in ophthalmology. This agreement is in line with our long-term vision to become a specialized pharmaceutical company with a global presence. I am truly excited about the MicroShunt as a new and effective treatment option that should significantly improve patient outcomes," Akira Kurokawa, President and CEO of Santen, said in the news release.
"The InnFocus MicroShunt was developed to be the world's first minimally invasive stand-alone procedure for mild, moderate, and severe stage primary open-angle glaucoma. In addition to reducing IOP, the MicroShunt does not require simultaneous cataract removal, unlike many MIGS (micro-invasive glaucoma surgery) technologies. The InnFocus team is very pleased to be joining Santen and its global effort to address this growing and important segment of the ophthalmic market," Randy Lindholm, Executive Chairman of the Board of InnFocus, said in the news release.
The InnFocus MicroShunt is a drainage implant device that helps drain eye fluid and reduce intraocular pressure, which is currently the most effective means of preventing the progression of glaucoma. Compared to conventional glaucoma surgery, the MicroShunt is "minimally invasive."
Source: InnFocus Inc.
Last reviewed on July 19, 2016