Shire CEO Flemming Ornskov is spending $300 million of his cache of cash on a new ophthalmology buyout. Ornskov has pulled the trigger on a deal to snap up Foresight Biotherapeutics, adding a new bolt-on group with plans to take an eye drug into Phase III.
Eyecare company Clearside Biomedical announced that patients treated with its injectable eye disease candidate demonstrated improved vision, as it tries to become the first to commercialize suprachoroidal delivery.
In a deal designed to beef up its pipeline of ophthalmology drugs, France's Nicox has snapped up Boston-based Aciex for $65 million in newly issued shares and up to $55 million in contingent value rights. Those CVRs are structured to pay off Aciex's investors in large part based on the success of Aciex's drug AC-170, which has been in Phase III studies for allergic conjunctivitis.
The dealmaking continues in the red-hot market for eye care products with news today that Merck is offloading some of its ophthalmology products to Japan-based Santen Pharmaceutical.
Clearside Biomedical presented human and animal study data showing the benefits of directly injecting medication into the eye's posterior suprachoroidal space at the Association for Research in Vision and Ophthalmology 2014 annual meeting in Orlando, FL.
Startup Envisia Therapeutics is presenting the results of its ophthalmology research and technology allowing intracameral drug delivery at the Association for Research in Vision and Ophthalmology 2014 annual meeting in Orlando, FL.
Seattle biotech Acucela is on track to test whether the stateside IPO boom has legs overseas, pricing a public offering in Japan for $162.3 million.
Regeneron Pharmaceuticals is like a sports team on a streak that keeps bettors in the money by beating bookmaker odds time and again. This streak has gone uninterrupted for nearly two years.
Regeneron Pharmaceuticals has wagered on two preclinical programs for its growing business in ophthalmology drugs. The biotech heavyweight has forked over $20 million upfront and promised up to $45 million in milestones to its major partner Sanofi for full rights to the pair of antibody programs for use against eye diseases.
Fast-changing Shire is on a deal spree. This morning the biotech announced it is buying Brisbane, CA-based SARcode Bioscience for $160 million upfront and an unspecified slate of milestones. The buyout lands another ophthalmology asset for Shire, which closed on Sweden's Premacure just days ago.