Allergan (NYSE:AGN) has announced that it has signed a deal to buy ForSight Vision for $95 million up front, with a possible milestone payment for launching its periocular ring used for the treatment of glaucoma. The periocular ring is a noninvasive system used to deliver drugs and reduce high intraocular pressure (IOP) in glaucoma patients. It is usually inserted below the eyelids on the surface of the eye and releases the drug bimatoprost over several months. This lowers eye pressure in hypertensive and glaucoma patients.
Phase II trials for the device conducted last year showed that about 90% of participants kept the device in their eye. Patients suffering from Glaucoma usually face the risk of High intraocular pressure. Eye drop therapies are usually used to treat elevated IOP in these patients but they are difficult to use and patients’ sometimes stop refilling their prescriptions after six months. If ForSight’s periocular ring is approved, it could provide an important advance to address the significant challenges of patient compliance and adherence in glaucoma.
Allergan CEO Brent Saunders noted in a statement that the acquisition of ForSight and its periocular ring technology would build on Allergan’s commitment to eye care innovation. He noted that Allergan has been a leader in the introduction and development of novel treatment for underserved eye conditions including chronic dry eye disease and glaucoma. The acquisition of the ring technology demonstrates their continued commitment to advancing products that can transform the way patients receive treatment.
The acquisition of ForSight is the latest move by Allergan in its efforts to advance novel treatments for underserved eye conditions. In July this year, the company filed a de novo application with the FDA for a dry eye gadget it had acquired in its $125 million Oculeve buy.