Allergan picks up novel glaucoma device in $95M ForSight buy

Allergan ($AGN) will acquire ForSight Vision5 for $95 million up front, picking up the latter’s in-development periocular ring for the treatment of glaucoma. The pharma will also launch milestone payment for the device.

Glaucoma, a group of diseases that affect the eye’s optic nerve, can result in vision loss and blindness. High intraocular pressure (IOP) is a major risk factor for glaucoma. Currently, eye drop therapies are used to treat elevated IOP in glaucoma patients, but these are difficult to use and patients may stop refilling their prescriptions after 6 months, according to a statement.

ForSight’s periocular ring is a novel, noninvasive system to deliver drugs and reduce high IOP in glaucoma patients. It it inserted below the eyelids on the surface of the eye and releases the drug bimatoprost over several months to lower eye pressure in glaucoma and ocular hypertensive patients, according to the statement. In a Phase II trial last year, about 90% of participants kept the device in both eyes without clinician assistance.

“If approved, this technology could provide an important advance to address the significant challenges of patient compliance and adherence in glaucoma," said Allergan R&D chief, David Nicholson, in the statement. "... Importantly, this technology would also be highly complementary to our ongoing portfolio and development programs that are moving glaucoma treatment toward dropless therapies."

The move is the latest in Allergan’s efforts to advance novel treatments for “underserved” eye conditions, such as glaucoma and chronic dry eye. In July, the company filed a de novo application with the FDA for a dry eye device it acquired in its $125 million Oculeve buy. The device has a component that’s inserted in the mucus membrane of the nasal cavity and another that’s inserted under the skin below the eyebrow. A hand-held component allows the patient to wirelessly adjust the rate of tear delivery.

- read the statement

Related Articles:
Allergan files with FDA for dry eye device acquired in Oculeve purchase
Allergan to buy dry eye device startup Oculeve for $125M+
ForSight Vision5 ropes in $15M in Series C financing to develop its intraocular therapy