Alcon scoops up ESBATech in $589M buyout

Alcon (ACL) is slapping down $150 million to scoop up Switzerland's ESBATech while setting aside $439 million more for a schedule of milestone payments.

For Alcon, the deal delivers antibody fragment technology it can use in its development programs for new eye treatments. Alcon has been wheeling and dealing recently, inking a pact with AstraZeneca to match its research expertise with the pharma company's drug librairies in search of new drugs.

"Biotechnology offers significant growth opportunities in ophthalmology because it has the potential to deliver therapies with superior efficacy and safety relative to existing approaches," said Sabri Markabi, M.D., Alcon's senior vice president of research and development and chief medical officer. "Combining ESBATech's proprietary antibody fragment technology with our expertise in ophthalmic formulation and capabilities in global development will strengthen Alcon's leadership position in ophthalmology." 

- check out the Alcon release
- read the story from Reuters

Suggested Articles

A few years ago, one of our Fierce editors met a Big Pharma R&D chief for the first time. “You’re the ones with the scary name,” he joked.

Pfizer's eczema hopeful has been building its case to challenge Sanofi and Regeneron's Dupixent, but safety issues could stand in its way.

Cedrik Britten, M.D., becomes the biotech’s new chief medical officer to help run its adoptive cell therapy and TCR bispecifics platform.