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Alcon to acquire Transcend Medical

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Alcon has entered into an agreement to acquire Transcend Medical, Novartis announced in a press release.

Transcend Medical has developed the CyPass micro-stent to treat mild to moderate glaucoma. The device currently has CE mark approval in Europe and is awaiting FDA approval.

“We expect the MIGS technology to be a great addition to our device pipeline and to establish Alcon’s presence in this new surgical category to treat glaucoma,” Mike Ball, CEO of Alcon, said in the release. “If approved, it will provide a less invasive means of lowering IOP than traditional invasive glaucoma surgery, with the goal of lowering the dependency of topical ocular medication.”

Financial terms of the agreement were not released.